Turkey’s central bank officials will meet Wednesday to set monetary policy. REUTERS/Murad Sezer
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As Turkey gears up for a key interest-rate decision this week, options traders remain more bearish on the lira than every other emerging-market currency except the ruble.Risk reversals showed the premium on contracts to sell Russia's ruble and Turkey's lira versus the dollar in a month's time over those to buy were about 3 percentage points and 1.9 percentage points, respectively, the highest across developing nations.The benchmark U.S. 10-year yield reached a new 2018 peak of about 2.996 percent Monday, its highest since January 2014 .Emerging-market currencies slipped 0.5 percent, extending three weeks of losses.The currency fell 0.4 percent to 4.0911 per dollar Monday.The forint has appreciated 0.3 percent against the euro this month, outpacing most of its central European peers.
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