USD/JPY back under 152.00 – prospect of market volatility a headwind for yen carry trade

November 4, 2024
-Currencies, FCHFX

November 04, 2024 at 02:59AM
The US dollar has been under pressure during the session pretty much across the board. US political news from the weekend seems to be the suspect for the weak dollar:

USD weaker to open the new forex week – election polls the culprit

The yen has also benefitted from rising volatilies, the VIX was above 20 on Friday ahead of the US election and FX vols are also firm.

The prospect of volatility is a headwind for the yen carry trade (carry traders like it all quest for rate disparity to work in their favour) that is it benefits JPY.

USD/JPY yen is a big loser on the session here:

This article was written by Eamonn Sheridan at www.forexlive.com.

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