, Columnist
Strange Extremes Come to Foreign Exchange Markets
Latin America’s carry trade and the weakening Chinese currency are running counter to previous expectations. And then there’s Japan.
Tourists and a guide in Cabo San Lucas as inflation in Mexico shows signs of cooling.
Photographer: Mariceu Erthal/BloombergThis article is for subscribers only.
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All remains remarkably calm for risk assets as the great recovery from last year’s interest rate shock has now lasted almost six months. For a sign that strange things are afoot, however, look to the foreign exchange market. It’s hitting extremes.