Curency traders seeking economies of scale?

The role of the interest rate spread stems mainly, in the literature and in reality, from the fact that traders tend to follow carry trade strategies, targeting not all currencies and not always the same currencies.

The VOXEu speaking about research into carry trades. I would be looking; are traders making a channel among the curriencies, banding the spread. Get my decoder running on the currency trade sequences.  Look for channel separation, like we did in the Ham Radio days.