Dollar-Yen Falls To Seven-Month Lows: Is the Carry Trade Now Broken?
The yen hit its strongest level since February even as traders raised Fed hike odds. JPMorgan had flagged 155 as the level that triggers a short squeeze.
The yen (Japanese money) got stronger compared to the dollar, which means some traders who bet the opposite way might have to quickly fix their bets. When lots of people have to buy back at once, it can shake up the whole market.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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