Yen Crosses Struggling to Recover
With the US stock market falling 450 points since last Thursday and as much as 650 points intraday, carry trades continued to struggle.
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CHF/JPY is the only yen cross that closed in positive territory while AUD/JPY is the day’s biggest percentage loser. Finance Minister Nukaga believes that the economy is still on the path to recovery and recent data appears to suggest this possibility.
