Markets Crater As Yen Carry Trades Unwind

markets_crater_carry_trade_unwinds

Japan finally managed to exert some influence on it's failing currency. Continual intervention has now forced USD / YEN down from 162 to below 152 on Thursday. They've spent more than USD 100 billion now defending the Yen.

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Chaos in Japan

The YEN carry trade in back on as hedge funds and other nasty speculators pile into US tech stocks...