The S&P 500 has extended its gains to 89 points, or 2.5% in a strong start to the new quarter. It suggests that at least some of the selling late last week was mechanical. The ability of the market to beat-back rumours of bank insolvencies is also promising.
USD/JPY had fallen on a softer ISM manufacturing report and broad USD weakness but while the dollar remains mostly weak, it's making some headway against the yen. From a low of 144.16, it's risen to 144.63, or about a half cent.
