Turkish lira remains under pressure on clashes at the disputed territory of Nagorno-Karabakh. USD/TRY heads for another record close, eyes 8.00. The Turkish lira dropped to a new record low after Russia said to Turkey to contribute to end, and not to fuel, the current clashes over the disputed territory of Nagorno-Karabakh between Armenia and Azerbaijan. The USD/TRY climbed to 7.8591, the new all-time high and as of writing, it trades at 7.8401, up 0.46% for the day and up 2.30% from the level it had a week ago. The pressure on the currency continues to grow amid geopolitical concerns. Last week, the Turkish’s central bank was forced to raise interest rates in order to support the currency. The geopolitical conflict, now with the involvement of Russia, is another negative factor for the currency. If the situation worsens the USD/TRY could climb to 8.00 and even more, triggering more concerns. Emerging market assets could be hit if the decline of the lira accelerates. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US: Sharp rebound in consumer confidence – Wells Fargo FX Street 2 years Turkish lira remains under pressure on clashes at the disputed territory of Nagorno-Karabakh. USD/TRY heads for another record close, eyes 8.00. The Turkish lira dropped to a new record low after Russia said to Turkey to contribute to end, and not to fuel, the current clashes over the disputed territory of Nagorno-Karabakh between Armenia and Azerbaijan. The USD/TRY climbed to 7.8591, the new all-time high and as of writing, it trades at 7.8401, up 0.46% for the day and up 2.30% from the level it had a week ago. The pressure on the currency continues to grow amid geopolitical concerns.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
