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Now the Yen attracts safe haven flows as stock losses deepen- USD/JPY drops below 157

The USD/JPY is now falling back close to the 157 handle and that has seen the major Yen crosses get sold aggressively. The EUR/JPY has taken the brunt of that, as it slides below 168 and towards 167.50. The GBP/JPY is now lower too, falling back below the 200 handle  and below 199.50 after setting a fresh 15 year high at 201.62 earlier today. The EUR/USD has also fallen to just below that noted 1.0675 level at the same time. In fact the USD/JPY has now traded below 157 and all this upward Yen pressure comes as the stock markets continue to fall. The DAX has dropped below 18,100 and the CAC continues to slide, now below 7,550. The Dow Jones futures are now pricing a reopening at or below 38,400 and the whole risk scene is not very positive right now following further bad geopolitical news, this time from Russia. 

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