To read further, please register free and login
[s2If !current_user_can(access_s2member_level1)][lwa][/s2If] [s2If current_user_can(access_s2member_level1)]

Market Update: Turkish Lira Hits All-time Low
Turkeys lira tumbled to an all-time low of 8.8 against the US dollar, which hovered near its 10-week high after the Fed surprised markets by signaling it would start raising interest rates sooner than expected. At the same time, Turkey’s central bank said last week it would decisively maintain the current tight monetary policy stance until there is a significant fall in inflation, but investors continue to expect premature easing in Q3-Q421 as President Recep Tayyip Erdogan has been calling for lower interest rates to support the economy. Also, strained US-Turkey relations weighed on the currency, as Erdogan reiterated last week the country’s stance on the S-400 missile-defense system it purchased from Russia following his meeting with US President Joe Biden, a move that could trigger a new round of US sanctions. [/s2If]
Join Our Telegram Group