Erdogan

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Asian Open: Erdogan – hold my lira and watch this

It was another day of epic volatility for the Turkish Lira. Only this time it went up in value, causing USD/TRY to fall around 17%.

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European Open: Lira today, ErdoGONE tomorrow

The Turkish Lira hit fresh new lows overnight as President Erdogan fired his Finance Minister (for opposing rate cuts, along with everyone else).

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European Open: RBNZ hike, FTSE holds support, Lira in freefall

Technically we suspect the FTSE has seen an important low around 7200 (but we cannot say the same for the flailing Lira). Up later is US GDP and revised consumer sentiment.

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USD/TRY explodes through 10. Will it reach 11?

Could this move above 10 just be a “buy the rumor, sell the fact” heading into the central bank meeting?

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November 16, 2021 04:17 PM
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USD/TRY at all-time highs

If Turkey continues to threaten retaliation against the Kurdish YPG militants or if there is a continued threat that the CBRT will cut rates once again, USD/TRY may continue to put in all-time new highs

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