GBP/TRY and USD/TRY reverse half of Tuesday's surge, but recovery lacks a clear catalyst and follows a CBRT statement.
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GBP/TRY & USD/TRY gains nearing +70% for 2021 as market protests interest rate policy & Lira spirals.
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The Lira tumbled again following the Central Bank of the Republic of Turkey’s November decision to cut its interest rate, which has left the Turkish currency on the edge of an abyss.
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The Lira spiralled to new lows that saw 2021’s losses against the Dollar and Pound surpassing the 40% threshold on Wednesday as a perfect storm of adverse conditions threatened to condemn the Turki…
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The Lira was on course to post gains for the week on Friday, although the latest interest rate policy decision from the Central Bank of the Republic of Turkey (CBRT) has led analysts to cut forecas…
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