EM currency positions hit
NEWS
This is the view of Alain Delelis, head of FX for Europe at Bank of America in London.
He said the big drops seen in currencies such as the rand and Turkish lira would force a rethink in the way people access the markets. "Many people in the hedge fund community put in place long-term carry trades that were long rand and lira. People made a lot of money out of this, but it has led to a bubble effect, and now we are starting to see it unwind."
Delelis pointed to Turkish lira volatility, which has
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