On Thursday Yen rose against its rivals. What is more important is the fact that Yen broke important technical support levels. The increased global growth uncertainties drove most traders into safe haven-assets in moves that gained momentum by weak holiday volumes.
The revenue warning from Apple was an isolated event and very rare but added to concerns about weakening global growth. On Thursday, Market members retreated to the safety of the safe-haven Japanese yen, which increased about 1.5% versus the greenback getting to 107.26. In early Asian trade, the dollar fell to a day low of about 104.90 yen. The Australian dollar usually is viewed as a measure of global risk appetite. In early Asian session it dropped to its lowest level in almost a decade to $0.6774.
Chinese tech sector going down
Daily Analysis - 03/01/2019