Yen Surged as Markets Rocked by Risk Aversion Risk aversion was the theme last week as S&P 500 tumbled -3.1% over the week and recorded the biggest fall since May 2012. DJIA also followed by losing -2.7%. Long term US treasury yields also extended recent decline. The slightly more dovish than expected FOMC minutes triggered a rebound in equities and pull back in dollar. But the impact lasted less than a day. The European Stoxx 600 index also posted the worst weekly fall since May 2102 on worry over the economic outlook. In the currency markets, yen was the biggest winner on risk aversion and falling yields and registered broad based gains last week. Dollar was the weakest one but it stabilized and picked up some strength towards the end of the week. Commodity currencies were generally pressured. Full Report Here... | 
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