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GBP and EUR weakens but it slows down with price action


USD index continue to grid up on further rise of UST yield (10 years 2.9808%). And US data still matching for sound economy recovery and continues for Fed gradual rate hike path with market pricing on June hikes to 0.25% as well. USDJPY goes higher and break over 108.50 that adds more momentum but technical overbought and UST yield stalling at higher level which driven some profit taking on top. Short term depends on broad USD move and technical for some sideway consolidation more likely.

GBP and EUR weakening further but the momentum slows down with price action driven for some rebound risk with only UST yield driven market are still rather in fragile trend. Today German IFO and UK Public Sector Net Borrowing, CBI Industrial Trend Survey might have some impact for those currencies.

AUD / NZD / CAD weakening further on reflection of strong USD move and near term still depends on broad USD move. Today US housing price index, New home sales, Richmond Fed manufacturing Index and stock/bond market move will direct the intraday action.


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