Its Over, page-23012

..now I am beginning to think that the AUD weakness is due to unwinding of the yen carry trade.

..Mrs Watanabe and others may have borrowed yen to place into AUD interest bearing deposit to earn the 5% interest for jam (borrow at near 0% and place in 5% time deposit or money market) and all of a sudden the yen did a currency reversal, appreciating by 6% in just a month. The currency reversal has wiped out more than a years worth of interest arbitrage.

..the yen carry trade reversal is causing turbulence in equity markets as affected market participants sell to remit back their yen.

..Michael Gayed vindicated.

1 year view
AUD JPY Chart – Australian Dollar to Yen Rate — TradingView