Yen trades broadly lower while Australian and New Zealand Dollars strengthen in Asia. Stock markets are cheering better than expected manufacturing data from China. Nikkei leads the way higher but gains in Hong Kong and Shanghai are limited. Yen is also additionally pressured by extended rebound in JGB yields. More manufacturing data will be featured today, in particular US ISM manufacturing index, which could further shape risk sentiments for December.

Technically, USD/JPY’s rally resumed after brief consolidations and is on track to 110.50 projection level. GBP/JPY also stays firm as rise form 126.54 is targeting trend line resistance at 143.65. A question for the today is whether EUR/JPY would break 121.46 resistance to align the bullish outlook with other Yen crosses. Meanwhile, Dollar’s rally attempt somewhat lost momentum, as seen in EUR/UAD and AUD/USD. Both pair would be watched to gauge underlying strength of the greenback.

In Asia, Nikkei is currently up 1.11%. Hong Kong HSI is up 0.48%. China Shanghai SSE is up 0.35%. Singapore Strait Times is up 0.19%. Japan 10-year JGB yield is up 0.0214 at -0.060.


source_https://www.actionforex.com/