Forex news for Asia trading Tuesday 26 2016
Terrible news from Japan to start the day:
Back to the markets:
The yen strength for the Europe/UK/US time zones continued on, with a vengeance, in Asia today. USD/JPY dropped below 105.70, hesitated for a good while and then plunged as Tokyo desks got active. The overnight news (6tln yen stimulus package) was repeated (and only 2tln looks likely through a supplementary budget, the rest, if it comes, is not until the following FYs). USD/JPY dropped like a rock, sat around 105.20 for a few minutes then continued under the figure and eventually to below 104.65 to establish its session low. Its not much higher now as I update.