The U.S. dollar is driving a wedge between volatility expectations for global currencies and stocks. The greenback’s plunge last month jolted currencies so profoundly that expected swings in the market are no longer correlated with a similar measure for U.S. equities. “It’s a reminder that dollar moves could be an outsized driver of risk, sentiment and narrative over the next few months, if they continue with the recent volatility experiences,” said London-based John Roe, head of multi asset funds at Legal & General Investment Management. For equities, there’s a “feeling that the fireworks are over for now,” he ... (full story)