The yen just went off the chart

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.

NOW WATCH: RED EVERYWHERE: It’s a global market meltdown

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at