Get Ready for TRY/USD Volatility as Turkish Lira Takes a Dive

[kreslik.news]

FX traders and brokers with remaining exposure to the Turkish lira should brace for additional volatility in the exchange rate at market open and beyond. Caution is of course also recommended to those with any exposure to leveraged Turkish stocks via CFDs.

On Friday the Turkish Lira suffered the biggest one-day drop since October 2008 following the alleged failed military coup attempt in the country – the TRY/USD fell as much as over 4.5% to the 3.0157 level which it had not visited since January 2016. However, since the market closed for the weekend, a lot of new developments happened on the ground in Turkey that might ... (read more)