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US dollar wilts as the risk mood improves

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.

 

There are also significant dollar moves unfolding versus AUD, NZD, GBP and the euro.

#forexlive

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