USD/JPY down 60 pips in last 15 minutes
The US dollar slipped before the latest round of economic data and then tumbled further after retail sales and the Empire Fed missed estimates.
The decline initially held up ahead of Monday's low of 116.70 but has now fallen through. That low came in low liquidity and the August 2015 low of 115.90 came on a momentary crash in markets.
The decline has come in tandem with a plunge in US Treasury yields as the market begins to kick and shout that the Fed is dead wrong.
