Investopedia explains 'Japanese Housewives'
Japanese housewives have had a discernible impact on currency markets. Bank of Japan officials said in 2007 that the housewives' trading activity helped to stabilize currency markets because of their tendency to buy on dips and sell into rallies.
A significant amount of this trading was carried out through online margin accounts, which offered leverage of 20 to 100 times. Carry trades, which involve borrowing in low-interest rate currencies and investing in higher yield assets, were also a favored strategy for many of the Japanese housewives.
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