Turkish Lira Popping Again

in markets •  18 days ago

Ever since Turkish "President" Erdogan played nice with Trump and sent that pastor back to the US, the currency stabilized for a short spell.

But 2019 is a new year and as talk of Turkey rebelling against NATO heats back up, so will the Pressure on the Lira. It just lost 3% against the USD in a "glitchy" flash crash until regaining about half of those losses. This was a warning shot.

A solid base of support formed around 5.30 against the USD, but the fundamental economic problems driving the decline (massive money printing) are still in place and its my guess that the long term decline in the value of the Lira will begin once again.


On the longer term chart, this thing is a basket case and is headed for the dustbin of currency history like all the rest of its unbacked by Gold predecessors.



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