Yen Firms In Asia

The Yen is firmer in Asia, despite US Tsy Yields ticking high, as weaker regional equities and US equity futures weigh on sentiment.

• USD/JPY is now dealing at session lows a touch above the ¥144 handle, the pair is down ~0.3%. Support comes in at ¥143.29, low from 27 June.
• AUD is down ~0.2%, and last prints at $0.6640/45. Support comes in at $0.6596, low from June 29 and bear trigger. Australia's Trade Surplus in May was stronger than expected printing at $11.179bn vs $10.90bn exp.
• Kiwi is also pressured as the waning risk sentiment weighs. NZD/USD prints at $0.6160/65, the pair is ~0.2% lower. The 20-Day EMA ($0.6153) provides the next technical support level.
• Elsewhere in the G-10 space, EUR is down ~0.2%. The Scandies are under pressure, NOK is down ~0.2% and SEK is down ~0.4%, however liquidity is generally poor in Asia.
• Cross asset wise; E-minis are down ~0.4% and Hang Seng is down ~3%. BBDXY is ~0.1% firmer. 10 Year US Tsy Yields are up 2bps.
• Looking ahead in Europe today we have German Factory Orders, further out a slew of US data crosses including ADP Employment, Initial Jobless Claims and ISM Services.