DislikedYes they can and often do go in opposite directions if the demand for yen is stronger than the demand for gbp then gj will go down at the same time if the demand for gbp is stronger than usd then gu will go up, normally if there is no demand for usd there is very little demand for yen then 2 will ride together, the problem right now with risk aversion as the yen is considered a safe haven there has been very strong demand for yen recently causing this pair to go down
the correlation betwwen gu and gj is 71%
hope this helpsIgnored
The attached is part of the reason I am bearish the dollar - although not necessarily bullish Euro or Pound - maybe I need to short the DY - lol.
http://www.financialsense.com/editor...2009/0710.html