Risk-aversion dominates Asian markets today as new coronavirus variant sinks investor sentiment. Australian Dollar is leading other commodity currencies lower. Yen and Swiss Franc surge sharply, followed by Euro and Dollar. Overall, it's flight to safety. The question now is, whether Aussie or Kiwi would eventually end as the worst performing one for the week, and whether Dollar would be overtaken by Yen and Swiss Franc. Technically, Yen crosses could take the spotlights today. AUD/JPY has taken the lead in breaking 82.14 support to resume the fall from 86.24. GBP/JPY could break through 152.35 support to resume the fall from 158.19 soon. CAD/JPY might then follow and break through 86.69 support to resume the decline from 93.00 too. But most importantly, the question is whether USD/JPY would break through 113.57 support to complete the case of a broad based turn around in Yen. In Asia, at the time of writing, Nikkei is down -2.82%. Hong Kong HSI is down -2.24%. China Shanghai SSE is down -0.57%. Singapore Strait Times is down -1.44%. Japan 10-year JGB yield is down -0.0094 at 0.076. | 