Yen 'Lower' As Carry-Traders Buy Higher Yields

Japanese Yen (JYU8): The JY opened lower at .9502 as 'carry-traders' followed equtiy traders, taking on more risk and buying higher yields by borrowing the 'cheap' JY. Prices did bounce to .9513, before retacing to a morning Lo of .9473 ahead of a higher open for the equity markets. Prices recovered to a morning Hi of .9514, before higher equity prices saw carry-traders taking on more risk and pressuring the JY to a daily Lo of .9367, before bouncing to a close of .9403, down 158 tics. The
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