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NZDJPY pumping again, interesting for carry trade unwind if things get dicey?
Watching $NZDJPY hitting 92.63, up another 0.69% today. Feels like a canary in the coal mine for risk appetite, especially if we get any hawkish surprises from the Fed later this week. Could be a decent unwind if that carry trade suddenly reverses, making me keep a closer eye on $BTC for any correlation dips.
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Yeah, it's definitely something to watch. The carry trade unwind scenario is a classic, and with the Fed meeting looming, it feels like we're on a knife-edge. I wonder how much of that is already priced in, though.