The US dollar drifts lower in a sign of improving risk appetite

The US dollar is softening across the board at the moment in a slow, steady move.

USD/CAD is particularly notable as it slips through yesterday’s low and Friday’s low, creating something of a head-and-shoulders top that targets close to 1.40.

The mood is improving in markets, though it’s not clear yet in stock markets. S&P 500 futures are flat just ahead of the open after the wild ride yesterday. Nasdaq futures are modestly higher.

Economic data today includes durable goods orders and JOLTS, both due at 10 am ET.

This article was written by Adam Button at www.forexlive.com.