The TRY has dropped over -3,5% against some majors, over 1800 pips in less than 2 hours, since Turkey´s has hold the interest rate level at 17,75% unexpectedly.
After the huge spike of the USDTRY , now it is pulling back after being unable to break the 4,98 level for the third time.
Even though the USD is experiencing a huge spike thanks to the positive fundamentals, the USDTRY remains below 4,98 due to:
- 4,98 .
Enjoy your trading!
Check my previous forecasts: