The sudden pick up in risk appetite is translating to some softness in the dollar as we get things going on the session. The greenback was in a good spot technically to start the week but is seeing the optimism pulled back now as risk trades are making a stand before we get to Fed chair Powell’s speech at Jackson Hole tomorrow.

EUR/USD is now up 0.5% to 1.0020, pushing past parity at the moment. Be wary that there are large option expiries rolling off later today at the figure level so that might keep price action a bit more anchored.