Yesterday's multi-year record-breaking rally in JPY [5] 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!!
[6]
and it seems WTI Crude is bid are being ravaged lower...
[7]
Charts: Bloomberg