Mrs. Watanabe

Mrs. Watanabe, also known as Kimono Trader, 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.

The term Mrs. Watanabe was used as early as 1997, although the origin is disputed. Watanabe (渡辺) is a common surname in Japan. 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.

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).