'Flash crash’ rips through Asia's currency markets sending the yen into orbit and the Aussie dollar crashing to Earth

Zhang Peng/LightRocket via Getty Images Japan's yen has gone into orbit on Thursday, breaking through key technical support levels as ...

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Zhang Peng/LightRocket via Getty Images

• 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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