This matches my understanding. An article explaining this a bit. Things are not looking good right now. Korean markets already hit the circuit breakers tonig

This matches my understanding. An article explaining this a bit. Things are not looking good right now. Korean markets already hit the circuit breakers tonight. https://www.reuters.com/markets/currencies/boj-shift-gives-yen-shake-causes-reassessment-popular-fx-trade-2024-07-31/#:~:text=Yen%2Dfunded%20carry%20trades%20in,'carry'%20on%20such%20trades https://www.reuters.com/markets/currencies/boj-shift-gives-y....