Kiwi Falls As Carry Trade Unwinds

02 Aug 2007

The New Zealand dollar bore the brunt of pressure last week as Kiwi-focused carry trades were unwound.

The New Zealand dollar bore the brunt of pressure last week as Kiwi-focused carry trades were unwound. Traders were focused on the currency and implied volatility across Kiwi pairs shot up. One-week implied volatility for NZD/JPY reached 18.12% Thursday, up from 15.92% Tuesday and 14.47% the week before. ...

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