Yen markets are driven by supply and demand. I know, that’s an obvious statement. But there is a somewhat complex scenario in the backdrop of JPY markets at the moment so I wanted to start off by establishing a foundation, if you will. Supply and demand are the main push points for market prices, but the natural next question is: What might alter that supply/demand equilibrium? In the FX market carry or swap can certainly be such a driver. This is daily rollover payment or charge that a trader faces based on the rate divergence of the underlying economies represented in the pair. And when we have a case of growing ... (full story)