Macro + Technicals needed a trigger = COVID-19

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Yen Soars as Investors Stampede to Safety

Equity markets have tumbled, as investors dumped riskier assets and piled into safe-haven currencies, sending the Japanese yen, which has regained its safe-haven status after last week’s brief wobble, to a 3-1/2-week high of 108.51 versus the dollar JPY=EBS, trading last up 0.8%.

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