XE Market Analysis: Europe – Mar 22, 2021

A plunge in the Turkish lira jolted global markets, following the sacking of the nation’s central bank governor, and with the credibility of the new governor in question. Many developing world currencies were pulled lower as a mostly risk-off sentiment ensued in global markets. Japanese investors are reportedly exposed to the high-yielding lira, which was behind an outsized 2.1% tumble in the Nikkei 225 stock index today. Australian and Chinese equity markets still posted gains, though most other markets decline. U.S. equity futures are showing declines of 0.3% or more, as of early London.