With the new QE3 announcement, and the Fed stating it will not raise interest rates before 2015, it's likely that the US Dollar will be the new carry trade. The idea is to borrow cheaply in US Dollars and invest anywhere outside of the USD. This will be most felt in emerging markets, which rallied after the Fed announcement.
http://seekingalpha.com/article/872541-qe3-to-start-new-u-s-dollar-carry-trade
