UBS AG Expects Turkish Lira to Advance 5% Against Czech Koruna

UBS AG (UBSN), Switzerland’s biggest bank, recommends buying three-month Turkish lira forward contracts against the Czech koruna, London-based strategist Bhanu Baweja wrote in a research note today.

The lender expects the lira to advance 5 percent against the koruna over an unspecified time period, Baweja said seperately in a telephone interview. “The time horizon doesn’t matter because you’re making money on this trade -- it’s a positive carry,” Baweja said from London.

UBS is recommending investors who enter the trade target a price of 13.25 koruna per lira and place a stop loss, or an order to abandon the trade, at 12.35, according to the research note.

To contact the editor responsible for this story: Garth Theunissen at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.