USD/JPY touches a low of 109.56 on the day
The pair is now down by 1.2% today as the risk-off tone in the market continues to extend its reach. Treasuries are also well bid in Asian and European trading, with 10-year yields falling to 3.008% currently - down by more than 5 bps.
The yen is the biggest gainer across the board today and with the dollar also gaining against the other major currencies as well (barring the yen and swissie), it says a lot about the moves we are seeing currently.
EUR/JPY is down by 1.6% on the day to 128.56 while GBP/JPY is down near the lows at 146.35 currently - falling by 1.8%.
It's all setting up for a really interesting session later when US traders come into the mix.
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