Turkey is investigating JPMorgan after the bank advised clients to short the lira
|03/25/2019||Posted by BusinessMediaguide.Com under General World News||
- Turkey launched probes into JPMorgan after claiming that the bank’s research note suggesting investors short the country’s currency was “misleading and manipulative.”
- It’s not the first time the country has hit out at foreign investors over alleged currency issues with Turkey’s President, Tayyip Erdogan, warning they would pay a “heavy price.”
- Turkey’s lira plunged more than 4% last Friday, continuing the country’s economic difficulties of late.
It’s a sign of worry at the top of the Turkish government when a banking research note causes two separate probes into a financial institution.