Risk trades under pressure
USD/CAD is at a fresh high, up 122 pip on the perfect storm of a 7.5% drop in oil and a 2.4% decline in the S&P 500.
The selling in stocks has returned but it was proceeded by a breakout in USD/CAD to a new high. Cable and NZD/USD are also at fresh session extremes.
Here's a look at the S&P 500 intraday as it tests the early low:
