Dealers go quiet on Turkey research

Seven banks have not covered this week’s lira meltdown, following investigation of JP Morgan

Turkish lira falls

Many large dealers have not published any public foreign exchange research on the Turkish lira since the cost of borrowing the currency soared to more than 1,000% earlier this week.

The blackout comes in the wake of the move by Turkey’s Banking and Regulation Supervisory Agency to investigate JP Morgan for recommending bets against the lira last week in the build-up to local elections in the country on March 31.

Sources at seven dealers with a local presence in Turkey confirmed to tha

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