USD/SEK and DXY often move in the same direction.
USD/SEK is often used as a proxy for the US Dollar Index for those who don’t have access to trade DXY. As a matter of fact, since mid-June the correlation coefficient on a daily timeframe for the two instruments been positive (meaning the 2 always move in the same direction), and the lowest readying since that date was +.46. However, today’s price action shows the 2 instruments diverging as the DXY is lower on the day and USD/SEK is higher.
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