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May 14 - 01:24 PM
G10: HeatMap: Correlation Between JPY & CHF Pickup Again; Risk-Off Tone To Persist - MUFG
First appeared on eFXplus on May 14 - 10:00 AM

MUFG Research discusses the recent G10 currencies correlation by analyzing a heatmap showing G10 pairwise correlation (US-dollar based) of daily percentage changes for the past month (22 trading days).

"In the past month correlation between the JPY and CHF has picked up again, and correlations of other currencies with these two pairs have weakened, which suggests their role as safe-haven currencies is driving demand again," MUFG adds. 

"If there isn’t an unexpected positive development in US-China trade relations in the near future, this demand could persist," MUFG adds. 


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Source:
BTMU Research/Market Commentary

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