They’re dusting for prints (only because you can’t dust for vomit..) in USD/JPY, EUR/JPY, AUD/JPY after the cancellation of a single Australian coal cargo acted as the straw that broke the camels back on the notion that China’s will lead the world out of recession.
Once stops below 93.50 were triggered USD/JPY fell to 92.74 n a flash while EUR/JPY slumped as low as 128.63.
AUD/USD hit an air-pocket which took it from 0.7850 to 0.7765 from which is has struggled to bounce.
You only see moves like this a handful of times a year. Hope you were on the right side.My guess is that Mrs. Watanabe was not…
As we write, EUR/USD is falling to fresh lows along with the equity market. Risk is very much out of fashion. EUR/USD trades at 1.3852. 1.3825 is support amid talk of 1.3800 barriers.
