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USD/JPY marks in a new August low on global Turkey fears

4 days ago   |   By FXCM

USD/JPY gaps down on broad-market risk-off flows.
Turkish banking contagion hobbled the market's chances of a risk recovery last week.
The US Dollar has gained against everything except the Japanese Yen, the FX market's safe-haven of choice as traders go full risk-off mode, dragging the USD/JPY into 110.40 on Monday's opening action.
The Dollar-Yen pairing gapped into 110.45 on the week's open as risk flows continue to reverse gear on widespread fear of Turkish banking contagion, sending the USD/JPY into a new low for August. The US Dollar is set to close the opening gap quickly in early...
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