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The Day The Yen Carry Trade Died

By Implode-Explode Heavy Industries

``While everyone is staring in disbelief at the USDJPY, the real carry action is in the high yielding-YEN pairs, i.e., the development, high growing countries. And it's a massacre: ZARJPY, NZDJPY, AUDJPY - all are plunging far more than the USD. This is nothing short of a complete carry trade unwind. The implications: the cheapest recurring source of funding for risk assets - the Yen carry trade, is over.''

Full post as published by Mortgage Lender Implode-o-Meter on March 16, 2011 (boomark / email).