Our Hedge Fund trading desk is monitoring the Japanese Yen/US dollar exchange rate for an investment in the Yen for implementation of a carry trade transaction. We see the Yen weakening against the dollar after a rapid rise, probably due to the Japanese Central Bank intervening in the currency market to support the Yen. The Yen has strengthen from 124/$ to last week of 113/$ unwinding the carry trade due to exchange rate risk.
At the current rate at 11:38 am EST the Yen is quoted at 114.37/$. We will monitor the Yen/$ rate for a carry trade transaction which we will invest the funds realized from the carry trade in high yielding assets.
G1 Structured Credit Corp. will act as our counterparty on the transaction.