Japanese investors have started to show interest in the carry trade strategy against the interest rate hikes in developing countries. Japanese investors’ net long positions against four emerging-market currencies, including the Turkish lira, hit 147 billion yen ($1 billion) in July, the highest in two years, according to data compiled by Bloomberg.
However, the Turkish lira became one of the currencies that failed to attract the attention of Japanese investors. According to the compiled information, the most preferred currency of Japanese investors in July, with a long position of almost 100 billion yen, was the Mexican peso.
The long-term negative level of policy rate in Japan allows individual investors to turn to currencies with high return potential. However, TL has not yet attracted the attention of Japanese investors, who are particularly interested in the “carry trade” strategy.
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