We need to go back a few days...
Retail traders in Japan literally cut their net long positions into Turkish lira in early Asian trade on Thursday. The position data sheds more light, after all, who caused the crash, and the three main suspects were Robots, Apple, yen shorts. The Flash crash event caused a strong appreciation of the yen against any other currency.
Individual investors reduced their net long positions in Turkish lira with 42,743 contracts on Thursday, the highest in August, according to data from the Tokyo Financial Exchange. The positions were worth 427 million pounds ($ 80.1 million), although it is still unclear whether sales led to the pound falling by nearly 9.2% against the yen or did not happen after a hedge.
The fall of the Turkish national currency was followed by the Australian dollar, which fell by more than 8% against the yen. However, data from the Tokyo Financial Exchange show that retail investors have made minor changes in their net long positions with the Australian. The US dollar rose the most as a result of the sale of the pound. The euro, the kiwi, the pound and the Swiss franc also rose.
Source: Bloomberg Finance L.P.
Graphs: Used with permission of Bloomberg Finance L.P.
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