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

 

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.

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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