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1 Apr 2015
USD/JPY selling-off as risk mood sinks
FXStreet (Bali) - USD/JPY has sold off quite sharply in a matter of minutes, setting its lowest for the day at 119.40, after failing to hold above the 120.00 round umber during last Tuesday's session.
The big miss in the Japanese Tankan series/capex saw an immediate downward response in Japanese stocks, with the Nikkei currently down 1.17%, and SP 500 futures also heavy, down over 1%, although volume at this time is reported very poor.
One of the potential catalysts for the sour mood in Asia today could also be the risk of a no nuclear deal with Iran. As Bloomberg reports, "world powers warned Iran that they’re ready to quit nuclear talks on Wednesday even if there’s no agreement, according to a participant, as the approach of a deadline led to brinkmanship on both sides."
Bloomberg adds: "While negotiators have agreed to continue past midnight, breaking with the official timetable, the talks won’t be extended beyond April 1, said a diplomat from one of the six countries negotiating with Iran, speaking on condition of not being identified in line with protocol. The European foreign ministers intend to leave the Swiss city of Lausanne on Wednesday morning regardless of the outcome, the diplomat said."
The big miss in the Japanese Tankan series/capex saw an immediate downward response in Japanese stocks, with the Nikkei currently down 1.17%, and SP 500 futures also heavy, down over 1%, although volume at this time is reported very poor.
One of the potential catalysts for the sour mood in Asia today could also be the risk of a no nuclear deal with Iran. As Bloomberg reports, "world powers warned Iran that they’re ready to quit nuclear talks on Wednesday even if there’s no agreement, according to a participant, as the approach of a deadline led to brinkmanship on both sides."
Bloomberg adds: "While negotiators have agreed to continue past midnight, breaking with the official timetable, the talks won’t be extended beyond April 1, said a diplomat from one of the six countries negotiating with Iran, speaking on condition of not being identified in line with protocol. The European foreign ministers intend to leave the Swiss city of Lausanne on Wednesday morning regardless of the outcome, the diplomat said."