Dollar plunges unexpectedly against the yen

The dollar has plunged against the yen in the closing hours of European markets, with the Nikkei futures index now also taking a hit.

This comes as US consumer confidence as measured by the Reuters/University of Michigan Consumer Sentiment Index comes in at a surprisingly low 82.7, versus an expected 84.5 – although economic expectations did advance for the third month in a row.

David Rodriguez, quantitative strategist at Daily FX tweeted at 16:52: