Volatility for Yen pairs exploded yesterday and sent anything priced against it broadly lower. Carry trades and commodity currencies were particularly hard hit (a classic sign of investor angst) yet it was GBPJPY which took the title as the biggest loser among FX peers. With Sterling coming under renewed Brexit pressure, it stood little chance against the surging Yen to tumble a further 1.6%. As mentioned by Jamie Dutta, the safe-haven status of the Japanese Yen can make it a harbinger of doom. And with investors simultaneously fleeing stocks, bonds and rushing into gold, it certainly feels like doom is nigh. The ... (full story)