Quote:
Originally Posted by jyl
Not market manipulation. A whole bunch of professional traders just got forced to liquidate a whole lot of positions in a hurry, because the yen carry trade blew up.
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Then other traders look at where prices are and what looks good now. And eventually the yen carry trade gets re-established. BoJ just did a mea culpa and all but promised not to do a surprise cut again, and the rate spreads are still wide.
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Very interesting and thorough explanation, thanks, I love learning about this kind of thing, how the workings of any platform operate at a granular level.