Of course, correlations come and go and sometimes they can be ignored but the fact that the dollar traded in line with vol is interesting given the USD's profile
Over the medium term, the dollar holds the highest positive beta to the volatility benchmark, sometimes it is the only G10 currency to have a positive sensibility to upside moves in vol
March trading showed the total opposite. The Cable FX Macro Dollar Index (red) extended gains as volatility dropped, the dollar's scale is inversed
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