US dollar wilts as the risk mood improves
The US dollar is sagging badly as the market comes around to the same conclusion that I outlined earlier:
That an Evergrande soft landing is a done deal. US equities sagged at the open (once again) but this time the dip buyer stepped in and now the S&P 500 is up 36 points to 4390.
FX is sending an equally-strong signal with USD/CAD at the session lows, down 53 pips to 1.2760.