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Asian Open: Erdogan – hold my lira and watch this
It was another day of epic volatility for the Turkish Lira. Only this time it went up in value, causing USD/TRY to fall around 17%.
USD/TRY lurches higher as traders question the central bank’s independence, 10.00 next?
Traders’ fears that the nominally independent central bank is becoming hopelessly politicized are being realized, causing a widespread loss of confidence in the lira...
EM Rundown: Could USDTRY bulls quit cold turkey?
Central banks will be traders’ central focus in the G10 this week, with monetary policy “decisions” out of the Federal Reserve, Reserve Bank of New […]
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EM Rundown: Policymakers set the tone in China, Turkey, Russia, and Poland
As readers of our week ahead report know, it will be a very busy week for monetary policymakers in the developed markets, with potentially high-impact […]
EM Rundown: Where is inflation hiding and what does it mean for a potential EM meltdown?
When it comes to countries like the US and UK, policymakers are hyper-focused on inflation, waiting for any sign of rising price pressures to give […]
EM Rundown: What would a Fed rate hike mean for EM FX?
Thousands of gallons of virtual ink has been spilled on the market implications of the Federal Reserve’s monetary policy meeting decision on Thursda, and we’ll […]
EM Rundown: Geopolitical Risks Abound for USD/RUB and USD/TRY
For most asset classes, the panic-driven moves of last Monday have been erased, with EURUSD completing its 500-pip round trip, US equities actually closing higher […]
USDTRY: TRYing (and Failing) to Form a Government
We rarely check in on the Turkish Lira beyond our weekly Emerging Market FX Rundown, but today’s moves in USDTRY practically mandate a closer look. […]