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Euro wreaks havoc on carry trades in unexpected rally
Published Mon, May 18, 2015 · 09:50 PM
New York
IT WAS supposed to be so easy. Borrow in euros as the European Central Bank kept interest rates near zero and use the proceeds to invest in the economies where rates are higher, pocketing the difference and generating huge profits.
For a while it worked - that was, until about a month ago when globa…
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