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Turkish Lira Strengthens Ahead of Interest Rate Decision

The Turkish lira is strengthening against several major currency competitors on Tuesday as investors anticipate the central bank to cut interest rates. Forex markets are also optimistic that Ankara can establish swap lines with foreign central banks to mitigate its currency crisis. The lira has been rebounding since it crashed to a record low against the US dollar earlier this month.

Turkish Lira Slightly Rebounds After Crashing to Record Low

The Turkish lira is slightly rebounding on Thursday after crashing to a record low against the US dollar early on Thursday. Investors are nervous about Turkey’s response to the economic fallout from the coronavirus pandemic, as well as the decline in the central bank’s reserves. Could the world bail out Turkey once the COVID-19 crisis subsides?

Turkish Lira Opens Sharply Lower After Sacking of Central Bank’s Chief

The Turkish lira opened sharply lower today compared to the Friday’s close after the news that Turkish President Recep Tayyip Erdogan sacked central bank’s governor Murat Cetinkaya, giving the office to his deputy instead.

Turkish Lira Bounces After Erdogan Warns Speculators

The Turkish lira rose against the US dollar, rebounding after Friday’s huge slump, today after Turkey’s President Recep Tayyip Erdogan warned investors speculating against the currency that they will be punished. The bounce was limited, though, and currently the lira is trimming its gains.

Euro Stabilizes on Italian Budget Concerns Amid Recovering US Dollar

The euro today traded sideways against the US dollar amid market concerns regarding the infrastructure spending plans of the Italian government. The recovery by the US dollar earlier today drove the EUR/USD currency pair lower, but the pair has since recovered most of its losses to trade sideways.

Euro Struggles to Rally on Upbeat Eurozone Data Amid Turkish Crisis

The euro today struggled to rally higher despite the release of upbeat data from across the Eurozone such as the German GDP report. The EUR/USD currency pair was largely weighed down by the ongoing currency crisis in Turkey, which has negatively affected the global financial markets.

Turkish Lira Rattles Global Financial Markets As Currency Crashes 20%

The Turkish lira cratered more than 20% on Friday after the US government announced it was doubling its tariffs on the country’s steel and aluminum exports. The collapse in the lira sent shockwaves throughout global financial markets, prompting the European Central Bank (ECB) to warn major European banks about being exposed to the Turkish economy.

Turkish Lira Tumbles After Central Bank Refrains from Interest Rate Hike

The Turkish lira slumped today after the nation’s central bank surprised and disappointed market participants, refraining from increasing interest rates.

Turkish Lira Rallies After Erdogan’s Victory in Presidential Election

The Turkish lira rallied today after victory of Recep Tayyip Erdogan in the presidential election.

Turkish Lira Crashes to Record Low

The Turkish lira crashed today, sinking 5% to the record low before recovering a bit. The currency still trades far below the opening level.

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