Yen's selloff continues as another week starts, backed by rebound in Asian stocks and Japanese yield. Indeed, 10-year JGB yield, currently at 0.093, is on track to 0.1 handle. Sterling is currently the strongest one, as lifted by hawkish comments from BoE officials over the weekend. Australian Dollar is following closely, leading other commodity currencies up too. Dollar, Euro and Swiss Franc are on the softer side. Technically, 130.45 resistance in EUR/JPY would be a focus today. Firm break there would indicate completion of correction from 134.11, and pave the way to retest this high for the near term. More importantly, that would also align EUR/JPY's outlook with other Yen pairs, confirming broad based weakness in the Japanese currency. In Asia, at the time of writing, Nikkei is up 1.57%. Hong Kong HSI is up 2.23%. China Shanghai SSE is up 0.38%. Singapore Strait Times is up 0.11%. Japan 10-year JGB yield is up 0.0058 at 0.093. |
