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The Dollar Is Undergoing A Major Change In Behavior, And Almost No One Has Noticed

Monday, March 11, 2013 - 6:59 AM
The USD has become increasingly positively correlated to the performance of the equity market. This suggests that the USD is not being used as a funding currency to the same degree as previously, and is starting to display some of the characteristics of an asset currency. This is consistent with the view that Fed policy stimulus is driving US asset markets, rather than broader risk appetite.

Morgan Stanley On US Dollar - Business Insider
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ShorebreakShorebreak2,621 posts since
Apr 6, 2010
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