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Aussie Dollar | Bank REO Real Estate
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Yen rises on bets carry trade to evaporate on economic turmoil

October 27, 2008 by · Leave a Comment
Filed under: Currency News 

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As the the carry-trade(borrow yen to purchase higher yielding assets) unwinds, the Yen has been strengthing at a profound level.  According to Bloomberg, the Yen is trading at a 13-year high against the U.S. dollar.  Near the bottom of this article, it mentions the Aussie Central Bank(ACB) has been conducting open market operations to purchase the Aussie Dollar to give it support after it has dropped over 30% in past months.

Article:

The yen rose to the strongest level versus the euro since May 2002 and traded near a 13-year high against the dollar as global economic turmoil encouraged investors to sell higher-yielding assets funded in Japan.

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