The forex markets are generally staying in tight range in Asian session today. Dollar is mildly higher even though Fed chair Jerome Powell further talked down stimulus removal. Yen is also strengthening while commodity currencies turn slightly softer. For the week, Sterling remains the strongest one, followed by Canadian. Euro is the worst performing. Selloff in Euro could extend further before weekly close. Technically, EUR/JPY's breach of 126.03 support and trend line support should confirm near term topping. Deeper fall would be seen to 125.13 resistance turned support. EUR/GBP is eyeing 0.8861 support. Decisive break there will extend the pattern from 0.9499 high through 0.8670 support. In Asia, currently, Nikkei is down -0.53%. Hong Kong HSI is down -0.41%. China Shanghai SSE is down -0.68%. Singapore Strait Times is up 0.25%. Japan 10-year JGB yield is down -0.0011 at 0.032. Overnight, DOW dropped -0.22%. S&P 500 dropped -0.38%. NASDAQ dropped -0.12%. 10-year yield rose 0.041 to 1.129. |