International Forex Inforamtion

Major currencies recover against dollar and yen as markets stabilize following yesterday's late recovery in US stocks. Asian equities are mildly higher but lack clear momentum in the rebound yet. With some intraday levels taken out in dollar and yen crosses, some consolidation will likely be seen in near term. While reversal in crude oil is clear, the head and shoulder tops in DOW and S&P 500 are not confirmed by a close below neckline support yet. But after all, we'd expect risk aversion to continue to build up on summer doldrums and hence, more upside is favored in dollar and yen in general