Dollar Holds Monday's Initial Move, SPX Reverse It

The opening move by the financial markets followed the lines of risk aversion. In the wake of the Paris attacks, caution was an understandable response for global investors. Yet, the initial move to risk aversion that would depress global shares and boost the US Dollar lifted later in Monday's session. Equities (here the S&P 500) recovered lost ground and more, but the USDollar wouldn't slip on the tempered haven premium. Does this reflect a deeper Dollar strength? Should we question the move in risk trends? I believe it speaks to both.