Did EUR/JPY help stabilize stocks of vice versa?

I think we have to credit the senior MOF official with halting the slide in USD/JPY and subsequently helping boost EUR/USD and finally equities from their lows. European jitters, primarily from Spain and Italy helped drag down equities around the time of the European close. In the US, we’ve since trimmed our losses and are now down about 0.75% on the day.