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Carry Trades: Is this Profit Taking or Liquidation?
Friday, 20 July 2007 20:40:29 GMT
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- Friday, 16 October 2009 23:59:42 GMT Japanese Yen Relinquishes its Top Safe Haven Status to the Dollar
- Wednesday, 14 October 2009 20:52:50 GMT Japanese Yen Mixed as BOJ's Shirakawa Signals End to Liquidity Measures
- Friday, 09 October 2009 20:42:27 GMT Japanese Yen Volatility Likely on Currency Intervention Threat
- Thursday, 08 October 2009 02:09:27 GMT Japan's Current Account Narrows as Exports Fall Most Since January
- Wednesday, 07 October 2009 21:15:18 GMT US Dollar, Japanese Yen Mostly Stronger as US Equities Drift Lower
- Tuesday, 06 October 2009 18:02:29 GMT US Dollar Japanese Yen Exchange Rate Forecast
- Monday, 05 October 2009 19:38:59 GMT US Dollar, Japanese Yen Mostly Lower as G7 Only Mentions Yuan Weakness, ISM Services Hits 16-Month High
- Saturday, 03 October 2009 00:15:45 GMT Japanese Yen to Follow Risk Trends as Prices Test Key Resistance
- Friday, 02 October 2009 00:29:10 GMT Japan's Jobless Rate Unexpectedly Falls, Household Spending Surges
- Wednesday, 30 September 2009 23:15:36 GMT Japan's Business Outlook Improves But Investment Falls Most in 10 Years
- Wednesday, 30 September 2009 20:10:08 GMT Japanese Yen Mixed Ahead of Q3 Tankan Report
- Wednesday, 30 September 2009 00:29:35 GMT Japanese Yen Extends its Retracement as Deflation Sets In and Fujii Weighs in on Intervention...Again
- Saturday, 26 September 2009 01:55:45 GMT Japanese Yen Momentum a Combination of Risk, Intervention and Data
- Friday, 25 September 2009 21:52:51 GMT US Dollar Down Slightly, Japanese Yen Surges as US Durable Goods Orders Fall 2.4%
- Thursday, 24 September 2009 00:07:09 GMT Japanese Trade Surplus Shrinks on Export Weakness
- Monday, 21 September 2009 20:52:46 GMT US Dollar Strength Continues, Japanese Yen Down Ahead of Fed Meeting on Wednesday
- Friday, 18 September 2009 21:10:57 GMT Japanese Yen Forecast Bullish on Lack of Intervention Threat
- Thursday, 17 September 2009 23:58:40 GMT Japanese Yen: What Happens When the Threat of Intervention is Removed?
- Thursday, 17 September 2009 01:26:06 GMT Japanese Service Demand Rises to Highest Since February
- Wednesday, 16 September 2009 19:34:43 GMT Japanese Yen Down as US Equities Break to Fresh 2009 Highs
Japanese Yen crosses or carry trades have sold off significantly today, raising the question of whether this is finally liquidation or just another bout of profit taking. The gap between Japanese and US bond yields has been narrowing with Japanese Yields holding steady and US yields selling off aggressively, which suggests that market sentiment has changed. For USD/JPY we have seen weakness throughout the past week and further losses are of course contingent upon whether the problems in subprime become global. The degree of today’s move reminds us of the move that happened in early June which means that it could extend for a few more days next week. There is enough on the US and Japanese calendar next week to prove to us whether the markets have really turned. From Japan, we are expecting consumer prices and retail sales.
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