Earlier today we warned about elevated volatility and the low liquidity in markets. Not long ago we saw several flash(y) moves take place in mighty FX pairs. Markets are broken.

The JPY moving massively. Note the JPY briefly traded below the 105 level.

The JPY move on the tick chart. This is all but normal price action.

Another crazy move was spotted in the AUD.

With Apple trading down 7% (QQQ down 2%) in after hours and now these flash moves in FX majors, reshuffling of big portfolios won´t be easy.

Trade accordingly.

Source; charts by Bloomberg