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Following on from an earlier update, noting the drop back in the US equity futures, they have all turned lower again. The S+P 500 is now pricing a reopening below the 5,300 mark and the Nasdaq 100 futures are pricing that at below 18,300. Both those are now quite some way below their earlier highs this morning and this all comes as the Yen gains more ground. The USD/JPY is now falling towards 146.50 and that further underlines the earlier failure of the dollar to get above the noted 147.90 level. At the same time, it is not easy to determine which is leading the other lower, the dollar or the stock futures
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