Judging by FX markets, this looks like a flight-to-safety bid as USDJPY makes new lows along with stocks…
….and bond yields…
…but broad dollar is up as EURUSD falls…
As Bloomberg writes, “USD/JPY fell to a fresh low of 110.93 even as the dollar rose vs most remaining G-10 peers. Dollar-yen undercut by a drop in 10-year Treasury yields and a decline in U.S. stocks, suggesting some haven-related flows, a trader in London said.”
