US stocks took a breather yesterday, and both the S&P500 and NASDAQ finished broadly unchanged, though it was a choppy session with big swings in both directions. The same cannot be said about the benchmark FX index, EURUSD, which plunged to new lows of 1.0380 from the low-1.05s yesterday. The plunge dragged the AUD with it, which is now 0.685, though the JPY seems to be catching a bid here, and it has dropped back to 128.50. With the exception of the JPY, Asian FX was all down against the USD yesterday with the CNY showing little sign of halting its recent slide. Treasury yields were lower again, 2s falling more than ... (full story)