Excerpt from: Forex News
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| October 15, 2008 | | Carry trade continues to unwind on the forex market | The Japanese yen is gaining in currency trading on the FX market this morning. As stock market bears emerge this morning, the carry trade unwinds on the forex market.
Because the carry trade is a risky trade, it is no surprise that falling equities are resulting in an environment of risk aversion. This is leading to gains by the yen in forex trading. FX Street reports on this morning's currency market:
The Yen gained broadly on Wednesday morning as investors showed concern
that the credit crunch is reaching well beyond the financial sector,
and might lead the global economy to a sharp slowdown. The carry
traders were quick to close their sell position against the yen adding
to its positive momentum. | Topic Tags: carry trade, curency trading FX market, forex market, FX market, risk aversion, trade forex market, yen currency trading, yen forex trading | |
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