Deleveraging continues as funds flow away from stocks, commodities, and carry trades into the US dollar, Japanese yen, and Treasuries. Indeed, the US dollar has rocketed versus most of the majors, but the Japanese yen has proven to be even stronger as the low-yielder has surged nearly 5 percent

The dollar rose sharply on Wednesday, hitting two-year highs against the euro and a basket of currencies, while the yen continued its relentless ascent as investors liquidated riskier assets.

BANGKOK - Thailand said on Wednesday it would propose that Asian countries expand a short-term liquidity support scheme to at least $150 billion at a meeting in Beijing this week.
In May, East Asian finance ministers agreed to create $80 billion in currency swaps to replace existing arrangements of mainly bilateral swaps called the Chiang Mai [...]

Mexico’s Stocks Post Sharpest Drop In 8 Yrs; Peso Weaker
MEXICO CITY (Dow Jones)–Mexico’s stocks closed with their sharpest percentage loss in eight years and the peso depreciated to its weakest closing level ever Wednesday amid turmoil in international markets.