Yesterday’s multi-year record-breaking rally in JPY stunned a few carry-traders around the world and the overnight session in Japan suggested things were not going quite according to plan. But have no fear. A perfectly hum-drum jobs report – not Goldilocks by any means in terms of its suggesting good growth (which most should want) or bad growth (which markets want) – was enough to spark an incredible 270 pip (so far) sell-off in JPY. This is a major nation’s FX rate – not a penny stock, not a banana republic, not a tech IPO!!



and it seems WTI Crude is bid are being ravaged lower…


Charts: Bloomberg


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