Introducing Today’s Currency Correlation
July 20, 2012 11:40 am
It has been the same over the past number of days that the Euro/Dollar cross moves are highly correlated to the S&P 500 index.
Below is the tick-by-tick chart of the two today.
In effect, the U.S markets are being held hostage to the moves by EuroZone policymakers. Isn’t that comforting?