Just a quick question, I'm not even sure if it has a definitive answer or whether it's just opinion. It's pretty obvious that the dollar and the (US, anyway) equity markets are linked. My question is, which is following which? Is the market following the dollar or is the dollar following the market? Watching EUR/USD in one screen and the Dow in the other, they move in pretty much in tandem. It's hard to see who's the leader by just watching.