FX Currency Correlations 29th April
It will come as no surprise that the US dollar is the weakest currency among the majors this past week. The dollar has had a rough ride of late and the trend has continued.
Forex market currency correlation data for this week shows the Swiss Franc riding high and the dollar dropping to new depths.
Nick can be found writing at this Forex analysis site.
The Japanese Yen has seen a sharp drop followed by an equally quick recovery and the Aussie dollar is smoothly trending higher. The Canadian Dollar is potentially being dragged lower by it’s deeply intertwined relationship with the US and even the rising price of oil is not enough to drive the Canadian economy in isolation.
The Euro has seen a flat end to the week after strong start. The bias is still to the upside though with weekly forex correlation data supporting a continuation higher.