USD/JPY tumbles as FBI reopens Clinton’s email case

Matías Salord FXStreet

USD/JPY dropped from 105.30 to 104.44 in a few minutes, after the FBI reopened Clinton’s email case, just 11 day before the US elections. The US dollar tumbled in the market and equity prices dropped. Wall Street main indexes managed to recover during the last minutes and are in neutral territory after hitting fresh lows.

The yen rose in the market amid the risk aversion environment while the US dollar and the Mexican peso were among the most affected currencies. The sharp moves took place only hours before the end of the week.

USD/JPY was trading at 3-week highs, consolidating above 105.00, and now it hovering around 104.70, down for the day but still up for the week and headed toward the highest weekly close since mid-July.

The impact in the market has been significant of the FBI story but with the weekend ahead, too much can happen during the weekend. Beyond the elections next week is also likely to be volatile taking into account that on Wednesday the Federal Reserve and the Bank of Japan, will announce their decisions on monetary polity, and on Friday, the US official employment report will be released.

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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