FlowBank
en
LiveWire

1256 days ago • Posted by Charles-Henry Monchau

Positive reaction of the Turkish Lira after the political drama which took place over the week-end

On Saturday morning, Turkish President Erdogan decided to fire Turkish Central Bank Governor. On Sunday, the country Treasury and Finance Minister Berat Albayrak, who is also Erdogan's son-in-law, unexpectedly resigned citing health reasons. Markets seem to take it positively this morning. TRY traded at 8.58 on Friday lows and is now at 8.13. Market seems to bet on rates orthodoxy after this week-end dismissals. The Lira is the worst-performing currency this year (-28% YTD) - source: The Market Ear, Refinitiv  

Turkish Lira in U.S dollar
bg_newsletter

 

CFDs are complex instruments and are not suitable for everyone as they can rapidly trigger losses that exceed your deposits. You should consider whether you understand how CFDs work. Please see our Risk Disclosure Notice so you can fully understand the risks involved and whether you can afford to take the risk.


This website is owned and operated by FlowBank S.A, a company regulated by the Swiss Financial Market Supervisory Authority (FINMA) and a member of esisuisse. The list of banks and securities firms authorized by FINMA can be accessed here. Depositor protection in Switzerland is provided by esissuisse for a maximum of CHF 100,000.- per client. Details concerning this protection system are explained at www.esisuisse.ch/en

FlowBank is affiliated with the Swiss Banking Ombudsman. Therefore, if you wish to initiate a mediation procedure with the Swiss Banking Ombudsman after your complaint to FlowBank, please contact the Ombudsman according to the instructions provided on its website: https://bankingombudsman.ch/en/

 

The information on this site is not directed at residents of the United States, Belgium, Canada, or any person in any country or jurisdiction where such distribution or use would be contrary to local laws or regulations.

 

Trading Forex and other leveraged products carries high risks and may not be apt for everyone. Before you consider trading these instruments please assess your experience, goals, and financial situation. You could lose your initial investment, so don't use funds you can't afford to lose or that are essential for personal or family needs. You can consult a licensed financial advisor and ensure you have the risk tolerance and experience.


Apple, iPad, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.

FlowBank S.A, Esplanade de Pont-Rouge 9, 1211 Geneva 26, Switzerland
FlowBank S.A, Seidengasse 20, 8001 Zurich, Switzerland