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The correlations between the US Dollar, Japanese Yen, and US S&P 500 remain near record-highs. The strong link explains large rallies in the Yen and US Dollar on continued equity market declines. In fact, it seems that currencies are once again moving in near-lockstep with major financial market risk barometers. A continued flare-up in financial market tensions could subsequently lead to further Japanese Yen and US Dollar gains against major forex counterparts.
Follow up-to-the-minute updates on the US Dollar, Japanese Yen, S&P 500, and other major financial instruments on the DailyFX Forex Stream.
Forex Correlations Summary
Forex correlations against Oil, Gold, and the Dow Jones Industrials Average for the past 30 calendar days:
Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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More Articles
- Forex Correlations Update: Canadian and Australian Dollars Remain Highly Correlated to Oil, Commodities
- Forex Correlations Update: US Dollar and Japanese Yen Less Correlated with S&P 500
- US Dollar, Japanese Yen Remain Closely Correlated to S&P 500
- US Dollar Remains Correlated to S&P 500, Ignores Interest Rates
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