Dollar retreats broadly in early US session as this week's rally lost some momentum. The greenback might need some help from tomorrow's non-farm payrolls report if it's to extend the rise. Still, Australian and New Zealand Dollar are the weakest ones on monetary policy divergence and risk aversion. Sterling is so far the strongest one for today on news that Brexit negotiation is making progress. Also, UK's new Irish border solution is hailed as a step to the right direction. But so far there is no details on what progress was made. Yen follows as the second strongest, then Euro. In other markets, DAX is the relative better performing one as it's trading up 0.08% at the time of writing. FTSE is down -1.0% while CAC is down -1.12%. In Asia, Nikkei closed down -0.56%, Hong Kong HSI down -1.73%, Singapore Strait Times down -1.1%. China is still on holiday. Treasury yields catch a lot attentions globally today. German 10 year bund yield is up 0.043 at 0.519. UK 10 year gilt yield is up 0.0674 at 1.511. Japan 10 year JGB yield closed up 0.178 at 0.159. Eyes will be on whether US yield could extend yesterday's strong rally. Technically, USD/JPY retreats quite deeply ahead of 114.73 resistance. With 113.51 minor support intact, further rise is still in favor. But break would indicate short term topping and bring lengthier consolidation. Sterling will also be a focus in US session. GBP/USD could have formed a temporary bottom already and stronger recovery might be seen to 1.3022 minor resistance and above. Meanwhile, EUR/GBP's break of 0.8847 low invalidated our view and could be extending the fall from 0.9097. |