Long time no post: Here is an observation. Since around July 2005 until today light crude traded in a band between roughly $60 to $70. In the same time EUR/USD also traded in a range between roughly 1.1800 to 1.2300. The interesting thing is, that the moves inside those bands are extraordinarily well correlated. (More than historically shown) It's almost identical. Does somebody have a good explanation for that? It seems strange for me since Euro is not a commodity. It should fundamentally trade completely different imo.