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|  | | February 11, 2008 | | Unwinding carry trade boosts the yen in currency trading | The Japanese yen is gaining in forex trading this morning. The carry trade is unwinding as risk aversion remains a concern in currency trading on the FX market. With worries of a US recession continuing, the Japanese yen is expected to continue to gain in forex trading. Bloomberg reports on the yen in currency trading:
``We still haven't gone past the period of risk aversion and
the carry trade is coming under pressure,'' said Niels From,
foreign-exchange strategist in Frankfurt at Dresdner Kleinwort,
the investment bank owned by Allianz SE, Europe's biggest
insurer. ``The yen could strengthen somewhat.'' | Topic Tags: carry trade, currency trading, forex trading, FX market, Japanese yen forex trading, risk aversion, US recession, yen currency trading | |
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