U.S. Futures Rally; Asian Losses Moderate

Speculation of further BOJ intervention into the currency markets has led to a dollar rally versus the yen, now trading above 79. Earlier this evening, it was 76.

S&P futs are 7.5 points above fair value or 0.6%. Both Japanese and Hong Kong markets are down less than 2%.

Related: Food commodities are soaring, on average up around 1.5%.

Update: the broader based Japanese Topix is now up. Crisis over.