Is there a correlation,relationship between euro/usd and oil prices?

If oil prices go up in an amount that is viewed as inflationary then interest rates will go up AND 'high' interest rates are supportive for the usd - so then if the usd goes up the euro would go down against it. Of course this could be viewed the same way by someone using the euro AND be a case for why rates and the euro should go up - then the usd would go down against the euro.





So if this is the relationship that correlation would be determined from - it would seem it would be a matter of perception instead of actual correlation.Is there a correlation,relationship between euro/usd and oil prices?
Of course. Up until 30 years or so ago, Oil was traded in Gold, then the official currancy for oil trading became the U.S. Dollar.





Since the USD floats against the Euro, the cost of a barrel of oil can fluctuate just based on the Dollar/Euro exchange rate... ignoring all the trading activity which also changes the value of a barrel of oil on a moment by moment basis during the trading day.