Entering into US session, New Zealand and Australian Dollar remain the weakest ones undoubtedly. NZD is sold off sharply after RBNZ indicated that next move is a cut. AUD follows as RBNZ’s dovish shift somewhat solidifies that case for RBA cuts too.
On the other hand, Sterling is the strongest one today. But again, the Pound is stuck in recently established range against Dollar, Euro and Yen. There is no sign of breakout and current rise is nothing more than part of consolidations. The indicative votes on Brexit alternatives will be carried out in the House of Commons today. And debate is due to start by 1500GMT. We’ll see what alternative Brexit path could gain majority in the Parliament.
On development to note is that global treasury yields are back under pressure. Japan 10-year JGB yield closed down -0.0018 at -0.067. German 10-year yield is down -0.0192 at -0.033. US 10-year yield hits as low as 2.379 and is now struggling to climb back above even 2.4 handle. The development might give Yen a little helping hand.
In Europe:
- FTSE is down -0.06%.
- DAX is up 0.35%.
- CAC is up 0.42%. German 10-year yield is down -0.0192 at -0.033.
Earlier in Asia:
- Nikkei dropped -0.23%.
- Hong Kong HSI rose 0.56%.
- China Shanghai SSE rose 0.85%, back above 3000 handle.
- Singapore Strait Times dropped -0.06%.
- Japan 10-year JGB yield dropped -0.0018 at -0.067.
