Photographer: Arnaldur Halldorsson/Bloomberg

Carry Trade Blocked by Iceland in Bid to Avoid Crisis Replay

  • New rules will lock in investments for a period of a year
  • Iceland preparing for foreign currency auction on June 16

Iceland erected new defenses to block fast money from chasing western Europe’s highest interest rates as the nation prepares to dismantle the last remnants of capital controls that have existed since 2008.

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