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  • The Turkish Lira Is Getting Destroyed

    From businessinsider.com

    Almost everywhere all around the world markets are quiet. There's one exception: Turkey. The Erdogan government is facing a massive corruption crisis, and the Turkish Lira is getting crushed. Here's a look at the dollar vs. the Lira over the last week. You can see the big spike today in the dollar relative to the Lira, as investors are dumping lira the moment they wake up. In the world of currencies this is a major collapse.

  • #1
  • Quote
  • Dec 27, 2013 4:42am Dec 27, 2013 4:42am
ARE YOU SERIUS...EURO IS UP COMPARE TO USD BY 104 PIPS WITH NO REASON OR 0,75% and you are talking about Turkish Lira???
  • #2
  • Quote
  • Dec 27, 2013 4:55am Dec 27, 2013 4:55am
well seeing as the Lira was down 3%, and its all the market talk at the moment, I think its fair.
  • #3
  • Quote
  • Dec 27, 2013 4:58am Dec 27, 2013 4:58am
There are many reasons why Euro is up. But they are weak so only a few pay attention. One of them is speculation. Asian currencies, JPY, AUD, NZD are weak. Metal, Gold, USD, Euro are strong. So these are imbalances. We can understand why Metal, Gold and USD are strong, but not Euro.

One way to understand is JPY, AUD, and NZD are not as easily as Euro to be manipulated.
  • #4
  • Quote
  • Dec 27, 2013 5:09am Dec 27, 2013 5:09am
11 hours of straight appreciation of the EURUSD, started in Asian session.

Well, repatriation of funds started from the banks in Asia I bet.
  • #5
  • Quote
  • Dec 27, 2013 5:59am Dec 27, 2013 5:59am
  •  Trader#462C
  • | Status: Unregistered Trader
EUR is starting the new year with a Big Bang! Jpy, aud, and cad are being burnied alive by euro follows closely by US dollar . It could be a set up for the next year, but for aud, we have been warned by Goldman Sachs that it could be a trade of the century to short aud against euro and that proved to bethe case. Goldman Sachs has got this right 100%.

For lira, I don,t know what is eating it......
  • #6
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  • Dec 27, 2013 6:13am Dec 27, 2013 6:13am
  •  Trader#6494
  • | Status: Unregistered Trader
Quoting Marsfx
ARE YOU SERIUS...EURO IS UP COMPARE TO USD BY 104 PIPS WITH NO REASON OR 0,75% and you are talking about Turkish Lira???
Not only that but the Lira destroy happens over a week now.
Turks may have an exports boost from that but they're gonna pay those F-35 at twice the price.
  • #7
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  • Dec 27, 2013 2:15pm Dec 27, 2013 2:15pm
  •  Trader#771A
  • | Status: Unregistered Trader
Turkish lira down due to political turmoil - protests calling for Erdogan's resignation, Erdogan firing cabinet members,etc. Euro is up because of Turkish problems, so it's wrong to say Euro is up for no reason. Some posters here on FF don't watch the news apparently.
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  •  Trader#C849
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  • Story Stats
  • Posted: Dec 27, 2013 4:38am
  • Submitted by:
     Newsstand
    Category: Low Impact Breaking News
    Comments: 7  /  Views: 3,673