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The inaction of the Turkish central bank again collapsed TRY

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Turkish pound is again in the spotlight with another new Low, which registers. The high yield on US bonds and the growing Italian one has led to a large sale of currencies from emerging economies, such as Turkey. The problem is not only rooted in global markets, but also locally in Turkey. Nearly two months ago, the Turkish financial authorities have hinted that it would raise interest rates in order to counter the continued slump in the pound, but that did not happen. Only last week TRY dropped by more than 4%. against the backdrop of the inaction of the Turkish central bank.

Source: Bloomberg Pro Terminal


 Trader Petar Milanov

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