January 2, 2019 / 11:11 PM / 20 days ago

Japanese yen soars in thin trade as stops stripped

SYDNEY, Jan 3 (Reuters) - The Japanese yen soared in early Asian trading on Thursday as the break of key technical levels triggered massive stop-loss sales of the U.S. and Australian dollars in very thin markets.

The dollar collapsed to as low as 105.25 yen on Reuters dealing, a drop of 3.2 percent from the opening 108.76. It was last trading around 107.30 yen.

The Australian dollar tumbled as low as 72.26 yen on dealing, having started around 75.21. It was last changing hands at 73.94 yen. (Reporting by Wayne Cole; editing by Richard Pullin)

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