Hong Kong cancels all flights and Chinese police assembling in Shenzhen – USD/JPY at 7-month lows

Yohay Elam FXStreet

The authorities on Hong Kong have canceled all outgoing flights after protesters have swarmed the international airport. This is the latest escalation and the worst economic disruption since pro-Democracy demonstrations have begun in the territory 10 weeks ago.

Over the weekend, clashes between the police and protesters have become more violent with reports of HK authorities using undercover officers.

Moreover, China's Global Times reports that the economic giant's People's Armed Police have been assembling in Shenzhen – the Chinese city bordering Hong Kong in advance of apparent large scale exercises.

The safe-haven Japanese yen has been strengthening amid the news with USD/JPY falling to a low point of 1058.23 – the lowest in seven months. The round number of 105.00 is eyed, followed by the 2019 low of 104.75.

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

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