Hi there dictionary
"New world order...?" (With respect to the lack of correlation between JPY-USD and other USD pairs?)
I agree that it is odd. But it is not a new phenomena.
When I was working on Market Risk ten years ago, we were regularly having to explain why the VaR on a Long USD-Short JPY position would drop when added to a portfolio with Long USD-Short (almost anything else) position. There is a very good reason why JPY behaves oddly. But it is years since I looked at JPY in detail, and I have forgotten it.
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