Quick one: USDTRY might be about to go boom
Forex market have started getting very volatile (after years of making us fall asleep), following the west heavily increasing their interest rates + the war against Russia.
The risk reward could be very good, the price can easily rally strongly. It looks like it could be about to burst. Even 15% odds of that happening are worth it to me.
The USDTRY fundamentals have changed:
- now it is as bad as before for the Lira
- but now the USD has interest to make it even more attractive compared to that dead currency
Makes sense to me it will continue to go up like it has been doing for years in a straight line as it now has even more reasons to go up.
Do not hold too long, the high lira rate hurts after a while; but not as much as it used to as it has been going down (from 20 to 10% in the past 12 months) and the USD rate has been going up.
Would really surprise me if the exchange rate between these two did not continue on its way up before very long. But you never know in this game...
The risk reward could be very good, the price can easily rally strongly. It looks like it could be about to burst. Even 15% odds of that happening are worth it to me.
The USDTRY fundamentals have changed:
- now it is as bad as before for the Lira
- but now the USD has interest to make it even more attractive compared to that dead currency
Makes sense to me it will continue to go up like it has been doing for years in a straight line as it now has even more reasons to go up.
Do not hold too long, the high lira rate hurts after a while; but not as much as it used to as it has been going down (from 20 to 10% in the past 12 months) and the USD rate has been going up.
Would really surprise me if the exchange rate between these two did not continue on its way up before very long. But you never know in this game...
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