Global financial markets are in full risk-on mode today. Major European indexes are trading higher while US futures indicates that record run is continuing. In the currency markets, Yen's steep selloff continues and looks unstoppable. Dollar is performing well as supported by rally in treasury yields. Euro, on the other hand, is rather weak, in particular against Sterling and Swiss Franc. Commodity currencies are lacking a clear direction. Technically, even CHF/JPY has also resumed its up trend and hit as high as 126.78 so far. A key focus is now on 61.8% projection of 117.51 to 125.48 from 122.10 at 127.02. Sustained break there could be an indication that Yen's decline is further accelerating, and would set the stage for 100% projection at 130.07. In Europe, at the time of writing, FTSE is up 1.46%. DAX is up 0.94%. CAC is up 1.43%. Germany 10-year yield is down -0.0188 at -0.139. Earlier in Asia, Nikkei rose 1.77%. Hong Kong HSI rose 0.06%. China Shanghai SSE dropped -0.20%. Singapore Strait Times rose 1.50%. Japan 10-year JGB yield rose 0.0168 to 0.089. | 