The yen carry trade “became overcrowded over the last few months as the Japanese have purposefully weakened their currency in a last ditch effort to revitalize their economy. It hasn’t worked,” writes Anthony Mirhaydari for MSN Money.
For now, GDX, GDXJ and friends are loving the unwinding of the carry trade.
Market Vectors Gold Miners ETF
ETF Trends editorial team contributed to this report. Tom Lydon’s clients own shares of GLD.