- Japan’s yen has gone into orbit on Thursday, breaking through key technical support levels as rising global growth risks nudged investors into a rush to safe haven-assets.
- Apple cut its sales forecast for its latest quarter, citing slowing iPhone sales in China, while Chinese manufacturing reads added to the burden of worries.
- The subsequent spike in risk aversion triggered massive stop-loss flows from anxious investors who had held short positions on the yen.
- The Aussie dollar dipped to decade lows in early trade.
SINGAPORE (Reuters) – The yen soared versus its peers on Thursday, breaking through key technical support levels as heightened global growth risks pushed investors into safe haven-assets in moves exacerbated by thin holiday volumes.
Charging the risk averse mood was a rare revenue warning from Apple, which added to worries about fading global demand.See the rest of the story at Business Insider
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