daytrade diaries... december 22, page-2

The US dollar is rising as the carry trade is being unwound. That is money coming out of our market and other emerging markets and heading back to the US dollar before the end of the US financial year on 31/12.

Some funds are sitting on large profits as a result of the carry trade hence the sell off in gold and oil since early December.

I expect the carry trade to resume course in January.