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FX Sees Flash Crash in Asia - But What Caused It?
FX markets in early Asia experienced what dealers refer to as a “mini flash crash” today as risk aversion levels were ramped up and volatility ensued following a profit warning from Apple. USDJPY fell 400 points at one stage before reversing more than half of the drop, while AUDUSD also collapsed sharply to hit a new multi-year low. There were also sharp moves in other pairs, with Cable dropping more than 200 points and even EURUSD saw what is for the normally stable cross, a decent move.

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