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  • Turkish Lira Soars After Central Bank Changes Monetary Policy, But Reserves Emerge As Biggest Concern

    From zerohedge.com

    After days of getting pounded, today the Turkish Lira is the world's best performing currency (even as the Brazilian real is getting crushed over the ongoing Trucker strike while the oil-worker union is about to stop work too) after overnight the Turkish central bank announced it was revamping its interest rate corridor, allowing it to tighten liquidity. The reason for the surge in the Lira, which was up 2.5% to 4.5985 per dollar as of 10:30am EDT, snapping two days of declines amid a nauseating rollercoaster of moves over the past week... ... is that starting June 1, it would return to the structure of rates it was ... (full story)

No comments at all?
Im pretty new to this, and I don't trade the Lira but I would say it will be a good time to sell. The politics of the country will ruin Turkey and no amount of Fiscal policy can may up for that. This is just a temporary surge in price meaning its a good time to short the Lira at inflated prices.
I did two successful trades on this: 3.9000-4.0500 and then 4.1000-4.4000. This pair will remain silent for some time. Risky to trade for a moment.
Position Trader
This is a dirty game of Israel, without a doubt, simply wanting to destroy the Turkish currency, and thus the constitutional legal order of the country, with the goal of tearing apart within sovereign Turkey.
Quoting Ken A
No comments at all?
Bull trap....
Carbon-Dioxide: the gas of life!
Quoting Fanatikos
This is a dirty game of Israel, without a doubt, simply wanting to destroy the Turkish currency, and thus the constitutional legal order of the country, with the goal of tearing apart within sovereign Turkey.
so many comics on here
ONE MUST LEARN, DO IT AND IT WILL BE KIND TO YOU
Quoting Ken A
No comments at all?
at its high i bought a 6 sells waited and down she goes , i will wait now for it to go back up for more sells problem with buys on the try swaps are very steep so i dont play that game , cant have the broker take it away again )
ONE MUST LEARN, DO IT AND IT WILL BE KIND TO YOU
In short: like it or not, Erdogan will soon be facing an acute social, political and economic crisis of his own inside Turkey. this is a great statement by the writer
ONE MUST LEARN, DO IT AND IT WILL BE KIND TO YOU
Quoting Aussi
{quote} so many comics on here
His name says it all
Worlds best performing currency ...? because they jacked up rates by 3 pct and tightened the noose around those who short lira.

Quoting Fanatikos
This is a dirty game of Israel, without a doubt, simply wanting to destroy the Turkish currency, and thus the constitutional legal order of the country, with the goal of tearing apart within sovereign Turkey.
Its Erdogan's own doing, he thinks he can boss around everyone including the markets.
In Turkey he puts everyone who doesn't agree with him in jail but when it comes to international affairs he needs to change his tune.
Have a nice day
Quoting billv
{quote} Its Erdogan's own doing, he thinks he can boss around everyone including the markets. In Turkey he puts everyone who doesn't agree with him in jail but when it comes to international affairs he needs to change his tune.
Dictators (even wannabe ones), often believe they have been blessed with "special powers".
Their arrogance and delusions are their undoing.
Come with me if you want to live....
Quoting billv
{quote} Its Erdogan's own doing, he thinks he can boss around everyone including the markets. In Turkey he puts everyone who doesn't agree with him in jail but when it comes to international affairs he needs to change his tune.
you said it , i said it and many others said it , does Erdogan think hes right >>> lets have an election throw all the opposotion in jail and i will win by a landslide
ONE MUST LEARN, DO IT AND IT WILL BE KIND TO YOU
Quoting Aussi
In short: like it or not, Erdogan will soon be facing an acute social, political and economic crisis of his own inside Turkey. this is a great statement by the writer
This smacks of panic --> "...overnight lending rises from 9.25% to 18% while overnight borrowing jumps from 7.25% to 15%."

The smart money is leaving, there is no other reason for such a huge leap in interest rates.
Carbon-Dioxide: the gas of life!
Quoting Exodus
{quote} This smacks of panic --> "...overnight lending rises from 9.25% to 18% while overnight borrowing jumps from 7.25% to 15%." The smart money is leaving, there is no other reason for such a huge leap in interest rates.
hi mate seems the smart moneys all ready gone , so he as asked the poor people to bail him out
ONE MUST LEARN, DO IT AND IT WILL BE KIND TO YOU
To trade the Turkish Lira is currently something for professional discretionary traders, because of sudden direction, volume, spread and swap changes. I don't like it if my strategy is good but my stops are triggered by extreme sudden Bid-Ask-Spreads.
Almost +5,000 pips so far

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  • Posted: May 28, 2018 11:26am
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 17  /  Views: 4,991