EURUSD: The euro fell sharply against the dollar from 1.1240 to 1.1190 following the news of two explosions at the Brussels airport and metro underground station suspected to be a terrorist attack at between at 7:10 am GMT. EURUSD was primarilly pulled down by the EURJPY selling on yen safe haven buying with the flight to safety clearly visible. Euro Stoxx fell to -0.96%, German Dax -1.14% 8:15 GMT.
GBPUSD: The british pound fell sharply from 1.4397 to 1.4256 (-141 pips) as the equity market fell following the news of two explosions at the Brussels airport and metro train station with the potential of a terrorist attack situation at 7:10 GMT. GBPJPY fell from 161.50 to 159.50 (-200 pips) as yen safe haven buying quickly followed. FTSE -0.76% to 6137.68 as of 8:15 GMT. The market also awaits the Feb UK CPI report scheduled at 9:30 GMT. The forecast calls for the Feb core CPI to be 0.5% m/m from -0.1% and 1.2% y/y from 1.2%.
AUDUSD: The australian dollar reversed the gains it made in early Europe from the high of 0.7621 to 0.7585 following the news of two explosions at the Brussels airport with the potential of a terrorist attack situation at 7:10 GMT. Yen safe haven buying ensued. Stocks fell. CAC40 is -0.78%, Euro Stoxx -0.36%. Aussie yen fell from 85.45 to 84.75 (-70 pips). Before the Brussels incident, the aussie rose to 0.7621 from 0.7588 after the RBA Governor Glen Stevens said the economy was improving, surveys still upbeat throgh jobs data was a bit ambiguous, room for more fiscal monetary stimulus on global crisis, but not needed.
USDJPY: On the same token, yen safe haven buying pushed the USDJPY rate lower from 112.17 to 111.38 (-79 pips) while EURJPY fell from the European high of 126.27 to 124.68 (-159 pips) at the back of the news of the explosions in Brussels suspected to be of terrorist activity.