Weekend can't come soon enough for Lira longs

11.05.2018 / 19:33

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Recep Tayyip Erdogan is not for turning, and his latest comments asserting that are leaving the lira vulnerable to sustained selling pressure into the weekend.

“FX speculators, interest rate lobby and enemies of Turkey under the guise of credit rating firms are not our concern,” the Turkish President just said in Ankara, addressing business people. Turkey must pull down interest rates, he adds.

After all the turbulence we've seen this week, the meetings that gave investors hope that higher interest rates could be on their way, currency traders aren't likely to hang around and wait for a central bank response. USD/TRY is back above 4.3 and may have its sights set on a new high for the weekend.

Source: Bloomberg Pro Terminal

Trader Aleksandar Kumanov

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Weekend can't come soon enough for Lira longs

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