Investors were surprised when they learned that the US was selling euros to prop up the yen. But was this support for an ally? Or worries about interest rates at home? Today on the show, Katie Martin and Alphaville reporter Toby Nangle unpack this unusual move. Also, they go long rain and long cheese futures. 


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You can email Robert Armstrong and Katie Martin at unhedged@ft.com.


Read a transcript of this episode on FT.com

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