XE Market Analysis: Europe – Jan 03, 2019

The Yen has strengthened sharply, driven by safe haven demand following Apple’s after-hours revenue warning, which has sent U.S. equity futures down sharply while weighing on Asian markets. AUD-JPY has been the biggest mover, and is showing a 1.8% loss despite having lifted out of its lows. USD-JPY is off by 1.4%, at 107.35, having printed a 10-month low at 104.81. The low was seen during the early Asia-Pacific session, in thin markets in the continued absence of the Tokyo interbank market.