An exogenous shock disrupts relationships and patterns. It may be a useful reminder the correlation does not mean 100% co-movement. The strongest currency in the world last week was the Swiss franc, a safe-haven that rose by almost 0.5%. The weakest major currency, and third weakest overall, was the Japanese yen, also a leading safe-haven. The second strongest currency was the Canadian dollar. Our reading of the charts gave us the most confidence in it. Its modest 0.35% gain contrasts with the performance of the other dollar-bloc currencies that fell by around 1.25%.
The dollar