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GBP/JPY at 3-1/2 year lows, probably the worst affected cross, dives over 13pct on the day

  • The odds of a 'Brexit' rising with every passing hour, markets now probably price in an exit scenario.
     
  • GBP/JPY cross continues to face double whammy from both a strengthening yen and a miserably shattered GBP.
     
  • The pair down over 13% on the day, hits three and half year lows at 135.05 before paring some losses to currently trade around 137 levels.
     
  • Demand rising for safe haven yen, heightened Brexit fears are pushing the regional safe haven Yen higher. 
     
  • Japanese finance minister Taro Aso has called in a news conference at 0415 GMT. Aso could talk on the likelihood of intervention, with BOJ expected to intervene to stall the yen’s rise.
     
  • Market Data
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