XE Market Analysis: North America – 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 Asian markets decline. European stocks and U.S. equity futures have been mixed.