Summary
[TD Securities: The U.S. dollar against the Turkish lira USD/TRY may climb again]After the Turkish government recently announced a bold new plan to protect deposits denominated in the national currency from foreign exchange risks, are people short on the lira? There are still doubts that have succumbed. Although the Turkish lira rose sharply after the news was announced, the momentum seems to have faded, and the country’s macro financial stability appears to be unsustainable. It is believed that the U.S. dollar against the Turkish lira USD/TRY may soon climb again steeply. (Golden Ten Data)
The drop in the Turkish lira raises doubts about the effectiveness of the Turkish government’s latest plan to boost the lira.The Turkish government recently announced a bold new plan to protect the country’scurrencyAfter denominated deposits are protected from foreign exchange risks, it remains questionable whether those who are short on the lira have really succumbed. Although the Turkish lira rose sharply after the news was announced, the momentum seems to have faded, and the country’s macro financial stability appears to be unsustainable. It is believed that the U.S. dollar against the Turkish lira USD/TRY may soon climb again steeply.
(Source: Golden Ten Data)
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