Finally a pause for breath, with China stock markets recouping somewhat today, and while Japan, Australia, among other markets in the Asia-Pacific region closed in the red, losses were comparatively modest. In the forex realm, the calmer backdrop translated into a correction of the dominant movements seen during the week; the yen, which has been the week's outperformer, ebbed as safe haven premiums unwound some, the Aussie and other commodity currencies, which have been the week's underperformers, recovered a portion of lost ground, and Asian currencies steadied.
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