Lira getting Stronger - Why?

[JohnF]

Well done to the wee fella.  All those folks who changed their dollars, sterling and euros into lira have now just lost money. 

Dollar back up to 3.48 (high of 3.52) today and sterling up to 4.43.

Never mind, at least they enjoyed free ayran and kebabs and some even scored a free headstone.

JF

[stoop]

Well done to the wee fella.  All those folks who changed their dollars, sterling and euros into lira have now just lost money. 

Dollar back up to 3.48 (high of 3.52) today and sterling up to 3.43.

Never mind, at least they enjoyed free ayran and kebabs and some even scored a free headstone.

JF

It was always going to be a short term fix.

[Stopfordian]

 I wonder how many actually fell for it..

[jackstee]

Think you mean 4.43

[JohnF]

Yes, you're right. Typo.

JF

[Colwyn]

Economic news announced today is that the Turkish economy actually declined in the third quarter of 2016 (first time since 2007) and direct foreign investment in first 7 months of the year fell by 68%. Following this bad news ₺ rose by 0.85% against $. The reason for this is ............. a complete mystery to me.

[Stopfordian]

 Maybe because the $ dropped today?. The federal reserve is issuing a policy statement later today re, interest rates.

[Colwyn]

That may well be it. When I looked earlier the $ was up against more currencies than it was down but that has now reversed. However, $ has dropped more against ₺ than any other currency. If Fed does increase interest rates then we might expect $ to rise again.

[Stopfordian]

 Colwyn, where did you get your tl sign. I like that.  

[KKOB]

Here ...  ₺