International Forex Inforamtion

Japanese yen surges across the board as the week starts as risk aversion is back to be the theme of the markets. Aussie, Kiwi and Sterling are hardest hit in yen crosses which also dragged them lower against dollar. While Euro also weakens sharply against yen, it remain steady against the green back so far even though EUR/USD looks vulnerable. Nikkei dropped over -1.3% or -135 pts today while European indices are set to open lower. Crude oil dives through 65 level which further confirms the double top reversal pattern.