JPMorgan closed their USD/TRY position ahead of the interest rate decision

JPMorgan

JPMorgan analyst Anezka Christovova announced in her recent research note that they closed their January-opened 12th July maturity Dollar/TL positions with a profit, achieving a 12.5% return.

According to a note by JPMorgan analyst Anezka Christovova, the company closed its positions in Turkish lira against the US dollar with a maturity date of July 12, taking profits.

Christovova noted that the total return from this transaction was around 12.5%.

In the information note, it was stated, “We recommended this position based on the expectation that the pre-election incentives would put pressure on the Turkish lira. Our predictions largely came true with the significant growth of the trade deficit until May. We are now in a wait-and-see mode for the future; the implementation of orthodox policies will be crucial.”

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