Japanese housewives have ditched their traditional subservient image for the world of currency trading - influencing Turkish markets, says "The Times."
Japanese housewives have become rate speculators with 'carry trade." According to the Times Newpaper, Japanese women ruling 15 billion dollars are worrying Turkish Central Bank with their interest on the Turkish Lira.
The Times' article headlined 'The Kimono Traders":
In an elegant cafoverlooking Shiba Park in Tokyo, Ritsuko Shiono looks up from her book to check the foreign-exchange spot rates on her pink, sequin-dashed mobile phone. She is particularly interested in the Turkish lira. Meanwhile, 5,400 miles away in Ankara, the Turkish central bank is in panic mode because of Ritsuko - and the thousands of Japanese women like her who have quietly seized control of global currency markets.
Ritsuko, 34, is, as she puts it, "waist deep" in a fiendishly complex currency swap involving the Japanese yen, the US dollar and the Omani riyal. The trade has lost her more than 100,000 yen (this morning alone. She is beginning to think she might get more joy from borrowing another 200,000 yen from her online broker and selling her yen for Turkish lira, but is irritated because the prices she's after have not yet flickered on to her little screen.
Rest of the article is here>> http://english.sabah.com.tr/45F5D6EF07C64A6F84ADE637C7E66B53.html
