DislikedYou are right. Think of it as money flows, with equities and oil up it means there is an appetite for risk, therefore money flows away from the dollar as safe haven into currencies and instruments that offer a return, no point holding cash, that does not pay the bills so the big funds dump the dollar for something that actually makes money. Especially the big funds in the US, when risk is on they en masse start buying equities, once risk is of, they go back into cash and wait for the next rally, keep in mind the big MF's and pension funds are long-only...Ignored
MF's and ETF's got around the long only rules by starting 130/30 funds, meaning 130% long and 30% short allocation, that way they were still 100% long...
http://seekingalpha.com/article/5724...-leap-for-etfs