Forex news for Asia trading Thursday 1 December 2016
Yen was the bigger mover again here today. USD/JPY popped through 114.50, then 60 , 70 and 80 in rapid time as Japanese futures opened in Singapore. Like yesterday’s initial move, it was reversed first by retracement, some consolidation and then … USD/JPY carried on to fall to new session low. We got data from Japan today (capex and PMI) but these were not drivers. Stop losses and other flows ruled the day.