3 days ago
Turkey Central Bank Seeks to Repel Short-Term Carry Trade Bets
Turkish policymakers are taking steps to deter so-called 'hot money' flows into the lira, pushing back against one of the world's most lucrative currency bets.
While the central bank has kept a tight rein on the lira market and allowed the currency to slide gradually, traders say market moves have become less predictable lately. On recent Fridays in particular, the lira has weakened three to four times faster than the average pace on other days, according to Bloomberg calculations.
