Hedge funds and other investors have started building Turkish lira positions through currency forwards or lira-denominated debt, The Wall Street Journal reports. John Taylor, CIO at New York-based currency-focused hedge fund, FX Concepts, has built a long position on the lira through currency forwards. The team at investment firm FFTW, a unit of BNP-Paribas, has exposure to the lira through local currency debt and currency trading, and has been adding to its lira positions. GE Asset Management also holds dollar-denominated Turkish sovereign and corporate debt.
Click here for the story from The Wall Street Journal.