The risk switch has been flicked to off as the market goes looking for safety into the weekend.
USD/JPY has been flushed to 101.69 with the crosses following. EUR/CHF is down to 1.2133 and US stocks have given up the gains to trade into the red marginally.
It’s late in the day so the moves may be magnified a bit more than usual but don’t discredit the news being able to drive prices further as there won’t be many people wanting to hold positions into the weekend. Cable and the euro were lifting on the dollar sell of but now look like they may be interested in squaring up too.