Stocks start strong
US equity markets are catching a big early bid and the S&P 500 is up 18 points to 3163. That's weighing on the US dollar as the market falls in love with emerging market currencies and risk-sensitive currencies like CAD.
USD/CAD has fallen 25 pips in the past few minutes as dollar selling extends.
There isn't a catalyst for the move today but US-China tensions and the outperformance of Chinese equities at the moment is giving investors a reason to get out of dollars.
