Exchange Currency

negative carry pair

A forex trading strategy where a long position is held on a low-interest currency and a short position is held on a high-interest currency. The "carry" is the cost of maintaining a position. The cost of maintaining a long position is considered "negative". The "negative carry" thus implies that the futures price will be higher than the current spot price for the asset. For example using a long USD/MXN position where the interest rate in Mexico is 6%, and the U.S. interest rates 1%, it will cost 5% to carry. The investor can either abandon the option and lose potential future returns, or sell MXN and pay the cost of borrowing at 6% while lending USD at 1%. Opposite of positive carry pair.

Related information about negative carry pair:
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