This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

In the latest “flash-crash” episode for the market, the Turkish Lira suffered a sharp and sudden fall overnight plunging around 13% against the US Dollar. TRY has been under increasing pressure this year as a stronger US Dollar and domestic economic concerns have weighed on prices, with the CBRT seemingly unable to stop the declines with their policy adjustments this far.

Does your trading knowledge measure up? Check out our Learn Forex Basics!

This latest fall in TRY, which is now down more than 30% against USD on the year, comes as the US imposed fresh sanctions against the state, following the failed negotiations to release the imprisoned US Pastor Andrew Brunson. Brunson was imprisoned in the country two years ago for his alleged ties to the Gulen movement run by Islamic cleric Fethullah Gulen who was accused of organizing the failed military coup in 2016.

ECB Worried

There have been increased concerns voiced over the continued fall in TRY. The most recent concern was voiced by Eur...


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.