Turkey’s First Rate Hike In Nearly 3 Years Fails to Stem Lira’s Losses

“The slowdown in aggregate demand contributes to the fall in inflation. Yet, exchange rate movements due to recently heightened global uncertainty and volatility pose upside risks on the inflation outlook. The Committee decided to implement monetary tightening to contain adverse impact of these developments on expectations and the pricing behavior.” – The Central Bank of … Read more

Turkish Lira Poised For More Weakness As September Fed Rate Decision Looms

The trade on the blow-off top on USD/TRY, the U.S. dollar versus the Turkish lira, turned out to be short-lived. Now, the lira looks poised for a lot more weakness. USD/TRY never cracked the low of the day from the blow-off top, and now it is starting into a new uptrend. Source: FreeStockCharts.com Last week, … Read more