Japanese carry trade reversing - money to come back to Japan

Possibility - the money that expanded on the BoJ central bank loans to international indicates the same periods of increase as shown on the chart so it looks like either the profits of the carry trade were put off shore. Or some of the money found its way here.
Some will be returned as this carry trade unwinds

BoJ shows 3-4 T of money in loans overall - it also shows 30T now on the total balance sheet from Aug 2024 report - some of which will have been reduced this month. However its very difficult to fix this when you put into context the Fed is buying back bonds at 30 Billion over the next month or so. So trillions is just another league.

A quick flip through a chart book of JPY vs currencies shows that the increase in JPY is across the board and often corresponds to a prior KLOS

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