Special report: History on Lira’s Side
The Turkish Lira has been in a freefall to record lows against the US Dollar, down about 20% in 2016 and already down as much as another 10% in January 2017. But as much as it looks like all hope has been lost on the Lira, the outlook going forward may not be so grim.
Next 24 hours: FX Market Reconsidering USD Outlook
Thursday price action was a nice continuation from what we had seen late Wednesday, with the US Dollar continuing to decline on position adjustment following the letdown for Dollar bulls in the Trump press conference. The ECB Minutes didn't really offer any actionable insight and the market was left trading on the broader flow.