Yen's Inverse Relationship With Emerging Stocks Weakens: Chart

The inverse correlation between the Japanese yen and emerging-market stocks is fading from the strongest level in three years, a potential sign Japan’s currency is shedding some of its haven appeal. The 120-day correlation between Deutsche Bank AG’s yen trade-weighted index and the MSCI Emerging Markets Index is now around minus 0.33, up from minus 0.51 in February, the strongest negative relationship between the two gauges since December 2012.

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