UBS advocates rand-lira shorting

Shorting the rand against the lira doesn’t always pay off, but this is different, says UBS Group. The rand has been the world’s best-performing currency this year, gaining 7% against the dollar. Against Turkey’s lira, it has gained 5.1% after last year’s 20% surge. But the short-term average for the lira-rand has risen above the long-term mean: a buy signal to some traders. – Bloomberg