Aggressive profit taking in Asia, Yen surges

FXstreet.com (Barcelona) - The mood has taken a 180º degree turn along the Asian session, with the Australian Dollar back to its opening levels while the Japanese Yen enjoys sharp rises across the board.

According to Peter Whitley from IFR Markets: "Stocks across Asia witness a sharp bout of profit taking. MSCI AXJ now flat after being up 0.7% earlier. Shanghai down 1.2% and Nikkei down 0.7%. USD/AXJ finds a bid tone as a consequence taking the pressure off Asian Central Banks."