If movements of two currencies with low interest rates are highly negatively correlated, then financing in a portfolio of currencies would not be very beneficial. That is, financing with such a portfolio would not be very different from financing with a single foreign currency.

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If the movements of two currencies with low interest rates are highly negatively correlated, financing in a portfolio of currencies can actually provide benefits such as diversification and reduced risk. The negative correlation between the two currencies means that they may not move in the same direction at the same time, reducing the overall volatility of the portfolio. Therefore, financing with such a portfolio can be different from financing with a single foreign currency.

If Movements of Two Currencies with Low Interest Rates Are