The Market/FX Correlation Pair Of Choice: EUR-JPY
To the dismay of some CNBC pundits who are presenting a "strong dollar" decoupling case for equities, the key thing that they constantly forget are the numerous constituents of the DXY. A slightly more granular analysis of FX pairs indicated that everything is still as expected, with the JPY-EUR leading the way as usual. And that particular "micro leading" indicator just snapped.
Update: this is what a twang looks like. Is someone calling the BOJ's bluff?