Selloff in commodity currencies intensifies today as risk sentiment turn sour again. Major European indexes are all in deep red while US futures point to lower open. Yen, Swiss Franc and Dollar are taking turns to be the strongest one in a three-horse race. Aussie is so far the worst performing, followed by Loonie and Kiwi. But there is not much difference between the three. Euro and Sterling are mixed for now, stuck in the middle. WTI crude oil also dives below 64k handle, but Gold is resilient at around 1780. Technically, we'll pay attention to development in EUR/GBP for the rest of the session. Firm break of 0.8556 support will suggest that fall form 0.8668 is over, and bring retest of this resistance. That could also be a prelude to larger bullish reversal. If that happens we'd also likely see GBP/USD drops further to 1.3570 support GBP/JPY would also follow and drop to 148.43 support. There are where the key support level for the Pound to defend. In Europe, at the time of writing, FTSE is down -1.94%. DAX is down -1.96%. CAC is down -2.65%. Germany 10-year yield is down -0.002 at -0.481. Earlier in Asia, Nikkei dropped -1.10%. Hong Kong HSI dropped -2.13%. China Shanghai SSE dropped -0.57%. Singapore Strait Times dropped -1.42%. Japan 10-year JGB yield dropped -0.0003 to 0.017. | 