💱G10FX R^2s to CNH Lessen From A Month Ago: Cable FX Macro
- Rosbel Durán
- May 16, 2023
- 1 min read
Looking at R2s from daily returns in G10FX, the relationship between major currencies and the Chinese yuan decreased from where it was a month ago
The NZD holds the strongest correlation to the CNH, the AUD follows. A month ago, NZD/CNH R^2 stood at 43%, it is now at 38%. The same measure relative to the yen is now at 23% vs 31% a month ago
In terms of correlation coefficients, the daily measure sees the EUR following antipodes at 55%, unchanged from where it was a month ago. Antipodes hold a daily correlation of about 60% to the yuan
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