TRY/JPY + $40 a day in interest

I have been doing a research a while ago and found that going long with one position TRY/JPY gives $40 a day in rollover. However, I cannot decided which other pair (s) to hedge against that pair so to minimize losses if price goes down of the TRY/JPY.

TRY is rukish new lira. It has an interest of 16.5%.

Any suggestions?

hi..

I'm sure there was a almost identical thread start a few days ago on this topic...

NZD/TRY is a great hedge.. Historically it has even providing a good hedge for the major unwinds like in July 2007. You would essentially be creating a NZD/TRY position if u used the same position sizes... The only downside heding with NZD is it would take some of the swap away.