Japan is in the middle of a 4-day bank holiday and liquidity was light after the close. No specific catalyst can be attributed to the massive moves we are seeing in the yen and dollar.
Risk aversion was expected to follow the Apple news of cutting their guidance citing a steep drop in sales in China amid the trade war with the United States. S&P 500 futures dropped 1.2% following the Apple news. The moves seen in FX were extra-ordinary. AUD/JPY fell over 7% at one point.
The Apple cut saw Q1 guidance decimated. They cut Q1 revenue to ~$84 billion verse $91.3 billion eyed.
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