Turkish Lira Chronic Disease?
Updated
As you can see in the previous price actions after the interference of the Turkish Lira it seems that the Currency has gotten a Chronic Disease now.
The fast bounce back conclude that there is globally no trust within the Turkish Economic Politics.
As the Minister of Treasury has already been replaced within 3 years and the independence of the Turkish Central Bank regarding President Recep Tayyip Erdogan's politics are being questioned.
It seems that the market is craving for a change of governemnt, but as we know from recents words of the President an early election before 2023 is a wish that will not come through.
Simple conclusion: Uptrend Cable will continue till 2023 at least as the Turkish Government is not likely to change their Economic politics.
The fast bounce back conclude that there is globally no trust within the Turkish Economic Politics.
As the Minister of Treasury has already been replaced within 3 years and the independence of the Turkish Central Bank regarding President Recep Tayyip Erdogan's politics are being questioned.
It seems that the market is craving for a change of governemnt, but as we know from recents words of the President an early election before 2023 is a wish that will not come through.
Simple conclusion: Uptrend Cable will continue till 2023 at least as the Turkish Government is not likely to change their Economic politics.
Note
Source tweet for recent price action:twitter.com/Merkez_Bankasi/status/1466710884777136128
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