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

UBS AG, 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.

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