Japan, with interests rates next to zero, has played the role of piggy bank to the global economy in recent years. Now this “carry trade”, one of the pillars of the global financial system is unwinding.
Kosuke Takahashi
3rd October, 2008
TOKYO – Faced with a gloomy outlook for the faltering United States financial system and serious worries about a global slowdown, the Japanese yen is looking to be one of the winners in the turmoil as investors increasingly seek to reduce risk.
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