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August 10, 2018

HYCM, What to expect? USD/TRY pair on the move!

USD/TRY – 6.96889 (+8.85%).

This article is originally referred from HYCM News.

The latest fall came after reports the ECB was concerned about the zone’s major lenders’ overexposure to Turkey.

Also, the US showed no signs of lifting crippling sanctions despite the visit of a Turkish delegation to the US capital.

The lira has lost more than one-third of its value this year and will stay in the spotlight on Friday, with speeches from both Turkey’s Finance Minister and President.

Finance Minister, Berat Albayrak, is slated to unveil “a new economic model” although investors show little optimism ahead of the speech.

President Recep Tayyip Erdogan will speak for the first time since the latest selloff began.

Original Source: HYCM News

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