It hasn't taken long for risk sentiment to sour

US stocks turn south after positive open

US stocks have reversed the gains to make matching lows within minutes of the open and that's an ominous sign. Europe's stock market is undoing all the morning's good work

USDJPY has fallen to 119.60 from 119.85 and yen crosses are generally following

If we see stocks accelerating to the downside then we could have some fun in FX. Again, note the end of month effect as it could be playing a big part

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