Don’t get me wrong, I’m not complaining about the moves in AUD/USD and AUD/JPY as they are very welcome indeed but there is a train of thought that the day when Asia takes a move to new extremes in a volatile fashion is the day when the move is coming to an end. A 300 pip move in cable in Asia is almost unheard of especially when the move is driven by stop-loss selling rather than any fundamental news. Maybe just another old wives tale, or old traders tale, let’s wait and see.