Friday, November 9, 2007

The Carry trade unwinds?

Yen hit back today dragged down the prices, broke usd/jpy support level down to 110.60. Sell order was triggered and full profit locked in fast :)

Gbp/usd dropped today, closed at 2.0909 from 2.1161 high, following my trade plan, i manually closed remaining sell order as it expired. Fridays are always full of surprises, and never boring!!

So what will happen to the carry trade now? Weakening dollar, rise of junk bond spreads, lets see how it develops this month.

Result: +30pip

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