 Yen recovered much ground as US stocks tumbled steeply overnight. Meanwhile, Dollar remains generally firm, as partly supported by resilient treasury yields. Selling in Euro and Sterling slowed a little bit while commodity currencies are turning softer. ISM manufacturing and PCE inflation will come into spotlight today. But overall directions in the currency markets will remain largely driven by stocks and yields. Technically, Yen crosses will be the focuses today. In particular, GBP/JPY and EUR/JPY are heading back to127.91 and 148.93 support respectively. Sustained break there could reaffirm overnight risk-off developments in stock markets. That, if happens could set the tone for the initial part of October. In Asia, at the time of writing, Nikkei is down sharply by -2.52%. Japan 10-year JGB yield is down -0.017 at 0.053. Singapore Strait Times is down -1.15%. China and Hong Kong are on holiday. Overnight, DOW dropped -1.59%. S&P 500 dropped -1.19%. NASDAQ dropped -0.44%. 10-year yield dropped -0.012 to 1.529. | 
What drives the global financial markets to shift gears? Is it geopolitical uncertainty , central bank decisions , or the relentless march o...
