U.S. Update: Fear returns to markets

What happened in Asia Risk appetite extended during early Asia, sending Europeans up above past weeks range: Euro spent the session above the 1.4100 while Gbp break the 1.6600 level and hit a fresh year high at 1.6745. Yen gained against dollar and euro, as Japanese investors bought the currency for month-end settlement and the half-year's repatriation of their overseas assets for bookkeeping. Macro data in Japan show unemployment rose in May to 5.2% , the highest level since June 2003,