With Turkish markets reopening after last week’s holiday, the Turkish Lira was back in the spotlight on Monday and resumed with its slide against the US Dollar.
The recent slide has been mainly driven by country’s dispute with the US over the fate of pastor Andrew Brunson, who was being tried in Turkey on terrorism charges, all this against the backdrop of growing concerns over Turkish President Tayyip Erdogan’s grip on monetary policy.
The USD/TRY pair was last seen trading around 6.1265 level, up over 2% for the day, risking to spoil the prevalent risk-on mood across global equity markets.
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