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November 26, 2007 - Forex Economic News
Using the U.S. dollar in carry trades is producing returns.
The yen is usually the favorite currency when it comes to carry trades because of its low interest rates(0.5% currently) but a new trend is taking shape as the U.S. dollar is being targeted as a new carry trade currency. Bloomberg reports that using the USD in a carry trade against higher yielding currencies has produced a 17% return this year, besting the returns of the yen(9%) and Swiss franc(7%). U.S. interest rate cuts and the continuing mortgage crisis are factors that are making the USD carry trade look like an attractive bet. Check out the story at Bloomberg.
Tags: carry trade, Interest Rates, swiss franc, JPY, CHF, high yield ------ Blog index
