Further Turn in Carry?

Date November 28, 2007

Carry trades are up strongly today and I think that this extension will continue for at least another 100-150 points in pairs like USDJPY, AUDJPY, GBPJPY and NZDJPY. This of course will all depend on how the Dow trades this morning. Futures are up slightly and equities failed to recapture all of Monday’s losses. If the Dow opens up strongly though, we could see an acceleration of the Yen moves.

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Category Posted in Carry Trades, Dow, Forex Technicals, Uncategorized

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