What does Istanbul have to do with AAPL?
By: Sober Look
January 29, 2014 03:18 PM
Stocks: AAPL, MSFT,
Today the Turkish central bank took an unprecedented action, jacking up the overnight rate by 425 basis points to 12% (see post) - which sent the lira up by over 3%. Higher rates make a currency more attracive and more expensive to short.
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