Excerpt from: GFT Analysts in the News
|
 |
| November 12, 2007 | | Carry trade unwinds, bringing the Aussie down in currency trading | The Aussie is down in currency trading on the FX market this morning as the carry trade unwinds. Risk aversion, mainly due to the continuing turmoil in the U.S. financial sector, is creating problems for the Australian dollar and other currencies that rely on risk appetite and the carry trade to support them in forex trading. Bloomberg reports on the state of the Aussie in currency trading:
``There's been a big dump in the Australian dollar on the
carry trade unwinding,'' said Sue Trinh, a senior currency
strategist in Sydney at RBC Capital Markets, the second-most
accurate forecaster of exchange rates in the second quarter in
Bloomberg surveys. | Topic Tags: Aussie currency trading, Australian dollar forex trading, carry tade, carry trade forex trading, currency trading, forex trading, FX market, U.S. financial sector | |
|
|
