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Mrs. Watanabe
Mrs. Watanabe, also known as Kimono Trader,[1] is a term that gained prominence in the early 2000s, representing a stereotype associated with Japanese retail currency-market traders. These individuals became notable for their active participation in currency trading (Forex), which had a significant impact on global currency markets and garnered attention on a worldwide scale.[2][3][4][5][6][7] The term Mrs. Watanabe was used as early as the 1980s, although a 1997 reference in The Economist became well-known.[8][9] Watanabe (渡辺) is a common surname in Japan, but not the most common.[8][10] Despite the "Mrs." honorific, about 85% of the retail currency traders in Japan as of 2019 are male, mostly in their 30s, 40s and 50s.[11] Gearoid Reidy of Bloomberg News concluded after research that "Mrs. Watanabe"'s meaning changed over time from a Japanese equivalent of Joe Sixpack or Joe Bloggs to specifically referring to FX traders.[8] Due to the low interest rates in Japan, traders can borrow a large quantity of yen with a margin account, and use it to buy currencies from economies where interest rates are much higher (e.g. Turkish lira, Mexican peso, and South African rand),[11] a carry trade. References
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