It’s only the second trading day in 2017, and Turkish assets are already having a bad year.
The lira sank the most among the world’s major currencies to an all-time low after inflation quickened to 8.53 percent last month, 53 basis points above one of the nation’s key interest rates. That erodes the yield on Turkish assets already under pressure from growing security concerns and adds pressure on the central bank to raise borrowing costs.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.