USD/JPY collapses to 10-month low Thin markets and a scramble to cover positions or seek safe havens meant risk-focused currencies tumbled early in the Asian trading session today. USD/JPY collapsed more than three big figures in a matter of minutes, hitting the lowest level since March last year, as the scramble into the safe-haven yen accelerated, while AUD/USD slumped as much as 3.7% to the lowest in almost a decade. The Turkish lira plummeted, falling as much as 5% against the US dollar. What was the trigger for the crash? There appeared to be no one specific item, though news that Apple had downgraded its iPhone ... (full story)