By CountingPips.com
The Japanese Yen rose extremely sharply in the currency markets today with ‘flash crash’-like movements that brought the USDJPY exchange rate under the 105.00 level. The markets were clearly affected by Apple’s sales warning that revenue would be coming in less than expected and prompted worries about China’s economy.
The news hit risky currencies like the Australian dollar hard while the Japanese yen, usually a beneficiary of demand when the markets become stressed, spiked in strength. The US dollar (USDJPY) fell to the lowest level since March 2018 against the yen while the Euro (EURJPY) dropped to the lowest level since April of 2017 vs the yen.
The risk-off moves pulled the Australian dollar down against the US dollar as well.
Free Reports:
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
By CountingPips.com
- 3 Signs of Developing U.S. Economic Slowdown Apr 19, 2024
- Israel has retaliated against Iran. Investors run to safe assets Apr 19, 2024
- Gold hits record high amid growing geopolitical tensions Apr 19, 2024
- The US natural gas prices fell to a 2-month low. A drop in the technology sector on Wednesday had a negative impact on the broad market Apr 18, 2024
- Target Thursdays: Cocoa, Bitcoin and USDCHF hit targets! Apr 18, 2024
- British Pound shows signs of recovery amid favourable inflation data Apr 18, 2024
- Indices decline amid hawkish comments from the Fed. Investors are waiting for Israel’s answer Apr 17, 2024
- EURGBP: Slams into support on hot UK inflation Apr 17, 2024
- Brent crude prices dip amid concerns over global demand Apr 17, 2024
- Stock indices sell-off amid rising geopolitical tensions in the Middle East. China’s GDP grew the most in a year Apr 16, 2024