The USD and JPY were broadly higher on risk aversion stemming from the growing concerns over the economic impact from the swine flu outbreak. Asian markets are particularly sensitive from the flu concerns after the negative economic impact from SARS, with Asian governments from Japan to Singapore to Australia acting to screen travelers. Asian stock markets that started positive, turned south, adding to the pressure to sell JPY crosses, which weighed broadly on AUD, NZD, GBP, CAD and EUR. EUR-USD, which hit highs of 1.3301 in late NY on Friday, opened in Asia around 1.3225 and proceeded to slide to lows of 1.3155. USD-JPY gapped down to 96.75 at the open, from 97.10 in late NY, and eventually fell to lows of 96.52. Other concerns were also cited weighing on market sentiment including the U.S. bank stress tests and news that Chrysler had successful negotiations with CAW, UAW, Fiat and the government did not help DJIA futures which fell 136 pts.