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Commodity Currencies continue to Benefit the most vs. the Yen
By Sean Hyman | April 2, 2009
AUD/JPY up 3.71% or 256 pips….NZD/JPY up 3.62% up or 208 pips, CAD/JPY up 2.95% or 231 pips. Also, AUD and NZD are doing great vs. the buck today too.
USD/ZAR (South African rand) down 3.09% or 2,888 pips on the day on ZAR strength AND USD weakness. Greatest carry trade amount on this one of any carry trade….but it’s the most volatile too. Do keep in mind that a ZAR pip is about 11 cents of movement per pip that it goes up or down (in a mini account). In the same mini account, EUR/USD moves 1 dollar up or down per mini lot. So this means that USD/ZAR moving almost 3,000 pips is the equivalent to one of the majors moving about 300 pips.
Sean Hyman
www.forextradingblog.com
Tags: account, AUD, blog, buck, cad, carry trade, dollar, dow, EUR, forex, forextrading, jpy, lot, movement, nzd, pip, pips, Sean Hyman, USD
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