EUR/USD was on the defensive for much of the US session as “the era of good feeling” that accompanied China’s move to a more flexible yuan (more flexible than what?) faded as the day wore on. Equities and commodities lose much of their early bounce sending owners of risk trades scurrying to the sidelines.

EUR/USD triggered stops below 1.2350 level this afternoon and fell as low as 1.2303 before steadying.

AUD/USD and CAD slumped as the day wore on and commodities gave up the ghost. Aud traded at a high of 0.8837 in New York and ends near the lows, at 0.8775. 0.8755 was the bottom. CAD: 1.0133/1.0260 were the parameters with a 1.0233 close.

USD/JPY traded 90.89/91.39 with traders noting heavy Japanese selling interest toward 91.45/50.EUR/JPY opened not far from session highs of 113.33 and slumped as low as 111.85 late before closing at 112.14 as risk appetites eroded throughout the day.

Cable was a long steady grind lower. Like EUR/USD, it posted an outside day key reversal, suggesting a near-term top is in place. 1.4738 was the bottom while we peaked at 1.4849 in New York, well below overnight peaks.