USD/JPY hit a 13 year low in Asian session trade today touching 88.15 after the US Senate failed to agree on a bailout package for the Big Three automakers. The news sent a wave of risk aversion flowing through the Asian equity markets as Nikkei tumbled more than 4%. Meanwhile the commdollars were the biggest victims of the news in the currency market with Aussie and loonie plunging more than 200 points from yesterday’s close.