The market is positioning itself to come to terms with the fact that the Japanese Yen is going to spark a sell-off as we head into the new year.
Two scenarios…
They hike rates this year or in January…either way, the market will have to digest the possibility that if carry traders are caught up in a drawdown, then the market will react to the hikes.
Let’s make sense of what we can expect heading into a quiet day in the markets.
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