Risk-off prevailed during the Asian and European AM sessions as the possibility of Fed tightening pressured global stock markets. The yen outperformed its G3 peers, having become the prime haven currency of choice following yesterday's dovish turn by the ECB. USD-JPY fell to a nadir of 118.84, the lowest mark since Aug-26, and EUR-JPY posted a new four-month low at 132.58, down 1.8% since yesterday's ECB announcement. AUD-JPY edged out a new low of 82.88, the lowest since the Aug-24 three-year low at 82.09.
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