The Turkish lira yesterday plunged as much as 12 percent against the yen, forcing Japanese investors to liquidate positions in one of their favorite emerging-market trades for the second time this year. Much of the lira’s sell-off happened at about 7:20am in Tokyo, when Japanese margin-trading firms typically start closing lossmaking client positi […]
The Turkish lira yesterday plunged as much as 12 percent against the yen, forcing Japanese investors to liquidate positions in one of their favorite emerging-market trades for the second time this year.
Much of the lira’s sell-off happened at about 7:20am in Tokyo, when Japanese margin-trading firms typically start closing lossmaking client positi […]
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