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Forex swings will upend lucrative yen carry tradeA visitor washes Japanese yen banknotes and coins in water to pray for prosperity at Koami shrine in Tokyo's Nihonbashi business district, Japan, November 13, 2017. REUTERS/Toru Hanai
Foreign exchange investors have been enjoying a quiet, rich life. Predictable monetary policies have made it easy to borrow yen and invest it in U.S. dollar assets and those of other countries where interest rates are high. But as central banks start moving in the opposite direction, those “carry trades” will become a lot riskier.






