Yes, in theory. But in practice it depends on the frequencies.
Even if interference is insignificant, looping the wires around a metal core (which braiding does) creates a different impedance and can degrade the signal.

[–] YiddishMcSquidish@lemmy.today 1 points 15 hours ago (1 children)

Get out! From the inductance? How long it a length of wire does it take for that to become an issue?

[–] CannonFodder@lemmy.world 5 points 14 hours ago

It's the wrapping of it around a ferrite core that does it. Surprisingly little can make a difference at certain clock rates. If you take a cat5 cable running 1G and loop it a dozen times in a 6" circle and put a metal screwdriver perpendicular to the loop in its center, you will see a spike in bit errors. Weaving one wire with another isn't going to be as strong of an effect, and it's fiendishly complicated in terms of an e/m problem, but it could easily be significant.