USD/TRY plummets to 12-week lows below 5.45 on fresh political developments

Eren Sengezer FXStreet

The USD/TRY lost more than 300 pips in a matter of minutes and fell to its lowest level since the record-setting rally witnessed back in early August on reports of the United States removing Turkish ministers from its sanctions list. As of writing, the pair was trading at 5.4450, losing 1.25% on a daily basis.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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