Yen carry traders dealt New Year blow

The currency pair fell from 226.83 on December 26, when many traders entered the trade, to 214.64 on January 4. A London-based analyst said several major traders entered into long GBP/short JPY positions from December 26 to December 28 and then rolled over the trade to January 7, attracted by the guarantee of 10 extra days of interest before converting back into yen.

However, the yen appreciated sharply on December 27 on the back of newly released data that showed inflation accelerated to its

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: