Archived IMT (2008.12.19)

GBPJPY slumps 300 pips on the day almost hitting a fresh record low at 132.55 in line with the analysis made in the earlier Intraday Market Thought today. CMC Markets clients receive a more detailed analysis with charts outlining the extent of the drop in JPY crosses and as well as S&P500. Chapter 5 on Risk Appetite in my book illustrates detailed examples on the relationship between risk appetite, volatility and low yielding crosses such as JPY.