The White House expects the Turkish government to release the arrested American pastor, Andrew Branson, after a secret deal between the two countries. The US is expecting this to happen in the next few days.
As a result, TRY jumped by more than 2% against major currencies.
How will this be?
Undoubtedly, TRY will continue to recover, and the news will largely return investors' interest in the country. However, it is still too early to look for TRY positioning or to buy Turkish shares. At the moment, the conservative position is the best option, as we are waiting for details of the deal. They will be extremely important for Erdogan's shift to the overall policy of the country, or Branson is a single case that will not change the status quo.
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