Correlation between German DAX index and EUR/USD pair declines

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Source: Dukascopy Bank
© Dukascopy Bank
The link between DAX Index and EUR/USD currency pair weakened further, reaching 0.48 in afternoon trade. A rapid downward pattern was observed between German benchmark and Nasdaq Composite (CCMP) as coefficient dropped to 0.6 on Monday. German DAX index faced diminishing relationship with its European counterpart Stoxx Europe 600 Index (SXXP) in the last trading session as the correlation coefficient approached 0.85. 

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