S&P 500 Gains 10% Since March 30 Low Despite Multiple Shocks

The S&P 500 has risen 10% from its March 30 low, demonstrating resilience against geopolitical tensions, rate freezes, and oil at $110. This indicates strong risk appetite in equity markets despite ongoing uncertainties. The equity strength suggests continued demand for risk-on assets, potentially supporting commodity currencies and weighing on safe-haven flows. Dollar strength from equity inflows could pressure emerging market currencies while boosting risk-sensitive pairs.