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US dollar strengthens as risk trades slip further

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US equities hit session lows

It’s the end of a month that’s seen a very good run in equities so it’s not a surprise to see some selling into month end. Some might be rebalancing, some might be risk aversion on worries about vaccines and variants.

Whatever the reason, the S&P 500 is down 31 points to 4179.

With that, the US dollar is getting a fresh bid, particularly against the pound. GBP/USD is having a terrible day, down 140 pips to 1.3804. Watch for stops below the figure.

GBPUSD chart

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