AUD,NZD/JPY crosses

AUD/JPY still getting smashed: Chinese warships on the move

A quick look at the daily chart shows that there has been a huge move lower in AUD/JPY today. The HSBC flash PMI was pretty much as expected and regional equity markets are lower, but not excessively so. Chinese warships have been reportedly moving towards the disputed Diaoyu Islands and this has caused some serious risk-off sentiment as well as JPY buying ahead of possible FX repatriation.

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