Multiple FX Pairs Suddenly Flash Crash, Yields Tumble, Gold Surges
January 3rd, 2019Equities bloodbath resumes after Apple’s revenue warning.
Via: ZeroHedge:
In what some have suggested is a chained liquidation stemming from the collapse of AAPL shares after-hours, multiple FX pairs are flash-crashing across the globe amid still low liquidity conditions in what appears to have been the unwind of a pair trade where an AAPL long was “hedged” with a basket of FX carry longs.
USDJPY just flash-crashed a stunning 4 handles (the biggest drop since 2009 according to Reuters) to its lowest in over two years, as the JPY was suddenly panic bid against the USD, as the pair tumbled from 109 to as low as 104.87.
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