A different perspective to the USDTRY

3 במאי 2020Well, even if technical shows us double top or strong resistance around 7.00 and maybe a wedge etc. I think this resistance will be broken by 1 or 2 months since Turkey has a lot of debt in dollars and a huge impact is coming from Turkey's tourism income due to the pandemic. This time it will be a lot different than the priest Brunson crisis which led USDTRY to took a flight towards 7.00 in 2018 because Turkey's economy became very vulnerable since then. Sooner or later, we might see up to 8.00-9.00s but must wait and observe right now.