FOREX New York Session Video August 16, 2007

The unwinding of yen carry trades kicked into high gear today. The yen had its biggest one-day gain against the US dollar since 1998, and New York traders had multiple opportunities to profit from it. A 30-pip profit on a basic USD/JPY range breakout trade in the middle of the session was only the beginning. Those who stuck around and took the break of a psychological level at London close were in for a pleasant surprise.