Oil Diverges From Emerging-Market Currencies by Most on Record

The Iran war has not just broken a decades-long relationship between crude oil and emerging-market currencies, it has pushed it into reverse, with their correlation turning the most negative in...

By Srinivasan Sivabalan · Bloomberg Markets

The Iran war has not just broken a decades-long relationship between crude oil and emerging-market currencies, it has pushed it into reverse, with their correlation turning the most negative in at least 27 years.