Call it the new, new normal in the trading relationship between the U.S. dollar and stocks. Equities volatility and the hedges that come with it are dictating flows in the U.S. currency, not the other way around.
“The dollar has become of one of the last hedges that are really working in this environment,” Russ Koesterich, Blackrock Global Allocation Fund Portfolio Manager, said in a Bloomberg TV interview. “It has become fairly negatively correlated with stock.”
"Market" - Google News
December 02, 2021 at 10:03PM
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Stock Market Volatility Drives Dollar Flows, Not the Other Way - Bloomberg
"Market" - Google News
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