Japanese Yen Up in Spot Forex Trading

The Japanese yen should be favoured in spread bets, CFDs and spot forex trades in some instances as it gains on the spot forex market. The carry trade is unwinding with many high yielders, helping the Japanese yen in spot forex trading. Reuters reports on the yen carry trade:

"If you look at the currency markets as one reflection of the risk aversion theme that's playing out in capital markets, it's really the Japanese yen that's determining the terms of engagement," said Jack Spitz, director of foreign exchange at National Bank Financial.