 Australian and New Zealand Dollar are under some selling pressure today, with the Sterling following suit. These currency fluctuations do not appear to be tied to any specific market developments, but their concurrent weakness may suggest a cautious undertone prevalent among risk-averse traders. Notably, market participants might be realigning their positions in anticipation of this week's UK employment and GDP data, and RBNZ hold. Simultaneously, capital appears to be flowing towards Dollar, Canadian and Euro. Despite rather poor Eurozone investor sentiment data, Euro remains robust. The immediate outlook for Dollar hinges largely on the upcoming CPI and PPI data. Canadian Dollar is buoyed by firm oil prices and expectations of an imminent rate hike from BoC. Meanwhile, Yen is extending recent rally against the weaker currencies today while staying firm in tight range against Dollar and Euro. Technically, AUD/JPY in proximity to 100% projection of 97.66 to 95.14 from 96.81 at 94.29. Strong support could be seen around current level to bring rebound. Break of 95.14 support turned resistance be a signal of short term bottoming. However, sustained trading below 94.29, and further downside acceleration, will argue that AUD/JPY is probably reversing the whole rise from 86.04 (March low). In Europe, at the time of writing, FTSE is up 0.46%. DAX is up 0.54%. CAC is up 0.70%. Germany 10-year yield is up 0.0251 at 2.660. Earlier in Asia, Nikkei dropped -0.61%. Hong Kong HSI rose 0.62%. China Shanghai SSE rose 0.22%. Singapore Strait Times rose 0.31%. Japan 10-year JGB yield rose 0.0363 at 0.473. | 
