Turkish Lira Craters 7% In Record Drop, Hits All Time Low As State Banks Retreat From Defense

One month ago we told readers of our premium subscriber feed that shorting the Turkish Lira was our “highest conviction” trade.

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We were right: just under month later, the lira has lost almost 20%, a staggering, unprecedented move in the world of FX, and those who followed our reco (in size) can take a few months off.

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