Incredible moves on markets right now, centred around the yen.
As a few other people have noted such as WSJ's market beat, it will be interesting to see what comes out of the woodwork with a move like this. Could there indeed be another Nick Leeson lurking?
I don't know what cause this latest spike, but presume something has happened at the Fukushima Daiichi power plant. It's the biggest fall in the AUD/ JPY since the flash crash of last year and I presume this time it's not (just) algorithms gone berserk. With the AUD/ JPY the carry traders weapon of choice, it looks like central bankers around the world will be woken up with a rather stiff cup of cocoa.
