G10 currency analytics — spot, momentum, yen unwind risk and USD EPS translation impact. Methodology: Lustig-Roussanov-Verdelhan (2011), Brunnermeier-Nagel-Pedersen (2008).
fx-carry-currency-2026-10-05-v2JPY Carry Unwind Risk Elevated
JPY has appreciated >1.5% in the past 5 sessions — a historically significant carry-unwind signal (Brunnermeier, Nagel & Pedersen 2008). High-carry positions (AUD/NZD/NOK) may face accelerated unwinding. Monitor cross-asset correlation: carry crashes correlate with equity drawdowns.