Markets move on reports that US State Dept authorizes departure of staff in Middle East

USD/JPY has fallen further on a report that the Naval Support activity in Bahrain has been placed on ‘high alert’ with dependants of service members being told to prepare for evacuation.

The logical jump here is that something could be happening with Iran.

The S&P 500 quickly drop by 30 points on the headlines and USD/JPY hit a session low of 144.33. Oil has been surging all day and is now at fresh session highs, up nearly $3 on the day.

This article was written by Adam Button at www.forexlive.com.