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Given that Marlin provides exposure to foreign assets, how correlated is the SP with exchange rates?
My casual eyeball comparison of USD exchange rates over the past year against the SP appears to show a loose negative correlation -- perhaps with the SP lagging the exchange rate changes.
So... should I hold back with the current weakness in NZD? The real problem being that I have absolutely no clue (does anyone really) about where exchange rates are headed!
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