Where is oil — and therefore the dollar — going? One argument is that oil may temporarily fall as low as $60, but $100 crude is probably here to stay.

The correlation of the dollar with the price of oil is about 90 percent over the past few years.

But a more accurate way of putting it would be that the Euro/dollar (EUR/USD) is highly correlated to the price of oil. Why single out the Euro instead of other top-traded currency pairs?