Finally a pause for breath, with China stock markets recouping somewhat today, and while Japan, Australia, and most European markets trade 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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