North Korea’s nuclear test.     At least that is an argument for selling yen that has long made a certain amount of sense.  Some other arguments for selling yen are, well, a bit more creative. …

Stephen Jen of Morgan Stanley insists not-so-big.  Or at least that the large size of the carry trade cannot be proved – and that the impact of any recent unwinding has been overstated.   That is his…

The dollar rallied a bit last week, but nothing like the yen.The Wall Street Journal’s Mark Whitehouse conflates – at least in my view -- deleveraging with safe haven flows.   Deleveraging means that…

Do not let anyone tell you that China's economy requires a stable exchange rate, and consequently, it must remain pegged to the dollar.    China now trades almost as much with Europe as with the US, …