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Turkish lira implosion shows no signs of stopping

The plunge in the lira to fresh record lows against the dollar is one of the more interesting events in markets this week, considering the lack of appetite as we wait on the Fed next week. USD/TRY has gone parabolic and is up over 7% again today to above 23.00 as the Turkish currency continues to implode.The initial plunge came after Erdogan was re-elected as Turkish president but things have only gotten worse after the country's net foreign exchange reserves turned negative again for the first... Read More

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Turkish

Lira

Implosion

Shows

Signs

Stopping

Forex

Posted: Jun 7 2023, 09:20

Author Name: forexlive

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