USD/JPY Surged and AUD/NZD Declined Amid US Stock Slump

WikiFX News (12 June) - US stocks closed with the worst performance since the global sell-off in March, with all three major indices in heavy slump. The forex market was also affected, as the safe-haven greenback and yen climbed while Aussie and New Zealand dollars dropped.

S&P 500, Dow Jones Index and Nasdaq 100 lost 5.89%, 6.9% and 5.27% respectively at the end of the session.

JPY and USD are expected to keep their strong momentum during todays Asian trading session. Meanwhile, Asian stocks and growth related large commodities such as crude oil may suffer, as well as Australian and New Zealand dollars. Currently, safe-haven assets are being overpriced, while growth assets experience large depreciation.

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