年初以来,商品货币明显走强,无论从直盘还是从交叉盘来看,商品货币均表现出了相对优势。表现最为明显的是日元交叉盘。到目前为止,纽元/日元年内涨幅已经高达12%,澳元/日元和加元/日元涨幅也分别达到10%和9%。这些情况类似于2008年金融危机后的走势,套息交易活动有再次兴盛的迹象。套息交易即买入高息货币而卖出低息货币,投资者一方面赚取其中的息差,另一方面赚取其中的汇率差价。相对于波动不是太大的息差而言,汇率变动仍是套 Since the beginning of the year, the commodity currencies have obviously strengthened. Commodity currencies showed comparative advantages in both straight and cross terms. The most obvious performance is the yen crosses. So far, NZD / JPY has risen as much as 12% during the year, with AUD / JPY and CAD / JPY gaining 10% and 9% respectively. These are similar to what happened after the 2008 financial crisis, and there was another sign of a hedging activity. Hedging deals by buying high-yielding currencies and selling low-yielding currencies. Investors earn the spread on the one hand and the exchange rate spread on the other. Relative to fluctuations in interest rates is not too large, the exchange rate changes are still sets