The main currency in the Carry Trade is Yen, because at that time the interest rate of Yen was very low. And many operations of Carry Trade were marked by AUD and NZD.

当时进行套利交易的货币主要是日元，因为当时日元的利率很低，有很多套利交易的标的是澳大利亚元和新西兰元。

youdao

Due to its extremely low interest rate, Japenes Yen became the main currency for Carry Trade, and the object currency was the Australian dollar and the New Zealand dollar.

当时进行套利交易的货币主要是日元，因为当时日元的利率很低，有很多套利交易的标的是澳大利亚元和新西兰元。

youdao

At that time, the main currency for Carry trade was Yen as its exchange rates were pretty low then. Many bids for those trades were Australian dollar and New Zealand dollar.

当时进行套利交易的货币主要是日元，因为当时日元的利率很低，有很多套利交易的标的是澳大利亚元和新西兰元。

youdao

Optimism had returned to the currency markets, where the carry trade was back with a vengeance.

ECONOMIST: A good run for investors. But for how long?

Pressure to buy yen can be seen in the sharply higher volatility, spiking up to 9% from 6% earlier this month, according to Interactive Brokers, which notes that there is also higher volatility in the Swiss franc, another carry-trade currency that is rallying this week against the British pound, the Australian and Canadian dollars and the euro.

FORBES: Carried Away

The carry trade involves a currency play in which a lower interest rate currency is sold to purchase a currency with a higher interest rate.

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