Yen Gains as Global Decline in Stocks Prompts Carry Trade Exit

from Bloomberg Tuesday night:

Oct. 17 (Bloomberg) -- The yen rose for a third day against the dollar, its longest winning streak in two months, as a decline in Asian stocks prompted investors to sell higher- yielding currencies bought with loans in Japan.

Yen rallies causing an exit from the carry trades have been the trigger for two sharp sell offs in the stock market this year. If the yen rally continues into the European trading day we could have some action in the US wednesday.