Well it wouldn't be the first time I answered the wrong question. However, I pulled out a long term chart of the USD Index. From some time in '85 to '95 the USD fell from 140.35 to 78.19. The fall was very steady from 85 - to mid 88. Very few people would view that time as a bear market in equities. The correlation was poor, but if anything inverse, I would assume from eyeballing it. (Recently it is around 95 from a high of 107.76 in '02. This is from the Fed web site's Dollar Index not the Nybot's.) My thought is rather than assume a relationship is really driving decisions figure out a way to measure it or see it's consistent influence and then work it. I certainly don't have any foreign currency answers or authority, just trying to stimulate a little thought.