The Japanese yen traditionally sees strength during times of market dislocation, and with stock markets crashing around the world, Monday’s action is no different.
Aggressive selling of USDJPY (dollar/yen) has the pair down close to 4% near 117.25, and at its lowest level since the middle of January. The selling has action down almost 7% from the June 5 high of 125.86.
This wild chart was just tweeted by Alasdair Pal of Reuters.
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