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Turkish Lira Gains on US Dollar Despite Unfavorable Data

The Turkish lira gained on the US dollar today. That is surprising considering that macroeconomic data released in Turkey during the trading session was unfavorable.

Turkey Attempts to Defend Lira, Currency Remains Soft

The Turkish lira remains soft despite attempts of policy makers to prop up the currency.

Turkish Lira Falls for Seventh Session After Central Bank Disappoints

The Turkish lira fell today, extending its decline for the seventh consecutive trading session, after Turkey’s central bank disappointed market participants by yesterday’s monetary policy statement.

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.

Turkish Lira Rallies After Central Bank Hikes Policy Rate

The Turkish lira gained today after the nation’s central bank increase some of its interest rates and talked about possibility of more hikes in the future.

Turkish Lira Rebounds After Four Sessions of Losses

The Turkish lira remained extremely volatile, rising today after four consecutive sessions of losses.

Canadian Dollar Flat After Better-Than-Expected Inflation, Traders Eye Retail Sales

The Canadian dollar is looking for direction on Monday after the government reported better-than-expected inflation numbers. Investors will now look ahead to retail sales data later this week, as well as keep a close eye on the US central bank head’s annual speech at Jackson Hole.

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.

Turkish Lira Extends Decline on Monday

The Turkish lira continued to fall today after halting its recovery last week. For now, it looks like the decline did not affect other currencies.

Turkish Lira Halts Recovery, Falls vs. Dollar & Euro

The Turkish lira halted its rebound and fell versus the US dollar and the euro today as concerns about the situation in Turkey resurfaced.

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