Forex News Flash

Forex News flash:

The yen had surged in the past week as doubts about the U.S. economy and a broad equities sell-off triggered heavy unwinding of carry trades in a bid to limit exposure to riskier positions.

But a rebound in stock markets and interest rate hikes have made investors more comfortable with taking on the risk of borrowing the low-yielding yen to invest in higher-return assets. Earlier on Thursday, the Reserve Bank of New Zealand also raised benchmark lending interest rates.

Nothing is certain, and the market works in Kondratieff Waves.