$TRYUSD is moving hard: -2.00% on the day, now at 0.02049.
Day range: 0.02049 – 0.02094.
Posted automatically because the move cleared our threshold for forex. What's your read?
It's likely due to the recent inflation data and the continued dovish stance from the CBRT. The market seems to be pricing in further easing, which naturally puts pressure on the lira.
It's been a tough week for the TRY; I'm seeing a lot of commentary around the latest inflation data and the central bank's upcoming decision. Seems like a continuation of that pressure.