It was another exciting session in NY early on as the buck extended overnight gains on unbridled risk aversion. The overnight comments from China that they did not ask the G-8 to discuss the USD reserve status at the meeting next week provided the spark and a horrendous NFP report did the rest. US nonfarm payrolls plunged -467K in June, well below the consensus call for a -365K drop but more in line with our forecast of -410K. This sent equities reeling and the yen crosses were promptly sold