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Why the Japanese Yen Is So Volatile

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There were plenty of reasons for the global market selloff on Aug. 5, including premature worries of a US slowdown and fears of an artificial intelligence bubble. But one key factor was the unwinding of a popular yen-centered carry trade. The trouble began when the yen's value started rising after the Bank of Japan hiked interest rates for a second time this year. Now, as the dust settles, investors and Japanese business owners alike are questioning the yen’s role in the global economy.

For more Bloomberg reporting on the yen carry trade:
https://www.bloomberg.com/news/articles/2024-08-21/yen-carry-trade-data-suggest-cautious-return-of-retail-investors?utm_medium=social&utm_source=youtube&utm_campaign=originals&utm_content=article

Sign up for the Bloomberg Evening Briefing, Bloomberg’s flagship briefing in your mailbox daily:
https://www.bloomberg.com/account/newsletters/evening-briefing?utm_medium=social&utm_source=youtube&utm_campaign=originals&utm_content=article

00:00 Introduction
00:48 Yen and interest rates
02:11 BOJ's July rate hike
03:10 Carry trade and the ‘Great Unwind’, explained
04:46 Impact on everyday Japanese
07:41 What this means for the yen and global markets
09:15 Uncertainty prevails

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