March 25, 2024
Yen gains after intervention warning, dollar dips
“Implied volatility does continue to grind lower across most major currencies so this is a supportive environment for the carry trade - we should continue to see speculators borrow in yen and other low yielders, and invest in the emerging market high yielders,” says Corpay's Karl Schamotta, and “that could continue to put downward pressure on the yen.”