The question is in the title.
I understand “carry trade” but would somebody please
explain the term in the title.
Thanks in anticipation. 
It simply means that those market participants who shorted the Yen in favor of higher yielding currencies (ie: USD/GBP/AUD/NZD/EUR etc) are now buying back Yen (covering their Yen shorts) thus causing the rapid appreciation of the Japanese unit.
“Unwinding the Carry” is merely large scale covering of Yen shorts!
Add to that, aggressive speculative players advantaging themselves of the increased emotive sentiment out there, & you have a potent mix of heavy momentum in favor of Yen.
Thanks Tess