S&P 500 futures are flat just ahead of the open today while the US dollar pushes to the highs of the day. The dollar moves are particularly strong against the commodity currencies, in a move that doesn't bode well for risk assets.
At the same time, US Treasury yields are 2-3 bps lower today so bonds aren't showing the same kind of worry as FX.
In general, markets that worry tend to revert so I'd be careful chasing dollar strength here.
