Yen surges in inter-bank trade as Greeks vote 'No'

FXStreet (Bali) - The Japanese Yen, just as it happened last week after the surprising Greek banks closure announcement, is surging across the board as a huge sense of 'risk aversion' has emboldened traders to buy the safe haven asset at the Sydney open, with retail platforms not to open for another 1h 45/50m.

USD/JPY has been hammered more than 1 full cent from 122.80 NY close to reach its inter-bank lowest level at 121.70, with further room to fall now (technically speaking) until the 121.50 mid round number and horizontal support (as per mid June levels) is encountered. A break lower would then expose 121.00 (last week's low).