Euro On Defensive As Turkish Crisis Sparks Rush To Safety


SYDNEY – The euro was under pressure in Asia on Monday as fears about the exposure of European banks to crisis-hit Turkey sent investors scurrying to safe havens including the U.S. dollar, Swiss franc and yen.

Regional stocks also looked likely to suffer as Turkey’s troubles tainted emerging markets in general, while boosting highly rated sovereign bonds.

Nikkei futures NKc1 were pointing to an opening loss of around 200 points, while EMini futures for the S&P 500 ESc1 were off 0.25 percent. Treasury futures TYc1 were up a tick.

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