Products linked to the Turkish Lira have fallen out of favour with Japanese investors as sales of such products remains subdued since the second half of last year.

The sales volume for products tracking the exchange rate between the Turkish Lira and Japanese Yen are down by over 70% to JPY6.24 billion (US$57 million) year to date compared to the same period a year earlier, according to SRP data. Activity around FX structures in Japan remains in line with the second half of 2018 when sales stood at JPY7.78 billion after the Lira dropped by 40% against the US dollar compared to the start of the year. “We do not see many such trades on our end –

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