Turkish lira on the slide again
New record lows for the Turkish lira 11 Jan
- USDTRY has now broken up through 3.8600 triggering a rapid spike to 3.8951
- currently lower again at 3.8574
- TRY hits record lows vs EUR of 4.1108
- currently 4.0450
Lira under intense pressure again as concerns grow about the country's economic and political outlook.
Yesterday the CBRT stepped in to intervene as I reported here but it gave only temporary respite. Given the sharp pullback don't rule out similar today.