Risk trades bounce
At this point, I think everyone assumes there is something behind the allegations that the Kremlin wanted to help Trump. This is also the best evidence that Trump's team was willing to take the help.
That said, the market believes that nothing will stick to the President. He's shrugged off the accusations so far by going on a crusade against the media.
There have been a handful of times this year that risk trades have been kicked lower by Trump-Russia stories and each one has proven to be a buying opportunity. The market didn't wait long this time as the Nasdaq has rebounded back into positive territory.
USD/JPY has also recovered half its losses.
