Brazilian shares are down 4.3% and the real continues to slide (USD/BRL is at 1.7540).
Risk is being taken off across the markets, giving the dollar boost as traders look for the safety of the sidelines.
EUR/USD seems to be finding some “reserve diversification” buying in the 1.4925 area at the moment, but commodity currencies are under strong pressure.
USD/CAD has pumped up against 1.0500 barriers, topping at 1.0497 so far, and AUD/USD has fallen as low as 0.9227. Kiwi is down through 0.7500, now at 0.7481.