Why the stock market rally may face a big test from the U.S. dollar
The U.S. dollar may be losing its appeal as one of the few reliable safe-haven assets in times of economic and geopolitical uncertainty after an 18 month rally, and a further fall by the currency could fuel a 2023 stock-market rally, market analysts said.
Over the last 12-14 months there has been a clear inverse correlation between equities and the U.S. dollar…The DXY looks very poised for a countertrend rally here, and we don’t think we can get a true sense of the durability of this rally until we see how stocks react to a rising dollar.
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