Stock market decline sparking yen rally
There has been a total reversal in yen trading. Early in US trading, yen crosses rallied but the trend turned around in the past hour.
USD/JPY slumped to 120.10 from 120.555 but the moves in commodity FX have been the most dramatic. AUD/JPY fell to 84.14 from 84.94.
Keep a very close eye on the Australian dollar here.
AUD/JPY is testing the session low of 84.02 and AUD/USD is right up against 0.7000.
