OctaFX | OctaFX Forex Broker
Open trading account
Back

Breaking: USD/JPY drops more than 300 pips in minutes as risk aversion hits markets

Following the reports of Apple cutting its first-quarter revenue guidance, fears over a global economic slowdown escalated and caused a fresh wave of risk aversion to hit the FX markets. As a safe-haven, the JPY rose sharply against all of its major rivals and the USD/JPY pair lost more than 300 pips in a matter of minutes. As of writing, the pair was down nearly 200 pips on the day near 106.80.

Similarly, the AUD/JPY is losing nearly 4% at the time of press while the risk-sensitive currencies such as the AUD and the NZD are suffering heavy losses against the greenback.

EM currencies seem to be taking a heavy blow as well with the USD/TRY pair advancing to a fresh 2-month high above 5.60.

AUD/USD Technical Analysis: Aussie break to 3 year’s low as the battle for 0.7000 has started

AUD/USD daily chart AUD/USD is trading in a bear trend below the 50 and 200-period simple moving average (SMA). AUD/USD is testing the 0.7000 figu
Read more Previous

USD/JPY: Flash crash correcting, but downside risk prevail

The FX space has been shaken up in early Asia on the back of the news wires that Apple has seen a `significantly greater' impact from some EM weakness
Read more Next
Start livechat