DailyFX: US Dollar Correlation to Dow at Record Strength

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DailyFX Forex Correlations Weekly: US Dollar at Record Correlation to Dow Jones The Dow Jones FXCM Dollar Index (ticker: USDOLLAR) trades with a record correlation to the Dow Jones Industrial Average-cementing the US Dollar's position as a foremost safe-haven currency and having clear implications for its next moves.   The Dow Jones FXCM Dollar Index recently traded to fresh multi-month lows as the Dow Jones Industrial Average hit its highest levels since early August. The strong link between the US currency and stocks likewise means that the AUDUSD and EURUSD correlations to the Dow trade near record strength.   All in all, we expect this strong correlation to continue. If the Dow and broader stock markets continue their recent rallies, expect the US Dollar to fall further against nearly all major forex counterparts.   Download the Full Article Best regards, David Rodríguez, Quantitative Strategist for DailyFX.com drodriguez@dailyfx.com DailyFX Home | research@dailyfx.com | Contact US ©2009 DailyFX. All Rights Reserved. Forex Capital Markets, L.L.C.® assumes no responsibility for errors, inaccuracies or omissions in these materials. Forex Capital Markets, L.L.C.® does not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. Forex Capital Markets, L.L.C.® shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation losses, lost revenues, or lost profits that may result from these materials. Opinions and estimates constitute our judgment and are subject to change without notice. Past performance is not indicative of future results.

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