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Just re-running this as Europeans settle......>

FOREX
FOREX: Just re-running this as Europeans settle down.
- There was a lot of head scratching re: the sheer ferocity of the FX moves seen
overnight, with a particularly broad bout of, heavy risk-off flows accentuating
the already tumultuous session, as several currency pairs experienced a flash
crash in Asia-Pac hours.
- That will likely have some pointing to Mrs Watanabe as the driver of the
moves, especially given the swings in the high yielding MXN & ZAR.
- While TFE futures positioning in both is back from the recent extremes (in
outright terms), the Japanese retail investor base could easily be the driver
for the moves, given the heavy bias towards long MXN/JPY & ZAR/JPY evident (per
latest data).
- Link: https://emedia.marketnews.com/watanabe09032003.png
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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