Then the currency engaged in carry trade most was Yen for its interest rate was very low. And many carry trade's targets were Australia 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

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

The Australian dollar, the New Zealand dollar, the Brazilian real and the Turkish lira were all marked down during the market squalls, particularly against a resurgent yen.

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Direct convertibility between the Chinese yuan and New Zealand dollar would end the need for New Zealand's companies and currency traders to convert New Zealand dollars or yuan into U.S. dollars when making or receiving payments.

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The yen, yielding just 0.5%, was a cheap source of borrowed funds to buy much higher-yielding currencies like the New Zealand dollar, oil, U.S. high-yield bonds or even gold.

FORBES: Carried Away