Turkey is in the throes of a power consolidations worthy of Russia’s Putin governing style: Absolute, vicious and ham fisted. A country’s currency is a proxy for the performance and management of the trading zone/country itself. Much as a share of stock is for a corporation. And thus, the market doesn’t like what it sees in Turkey. The Lira has fallen consistently from 2009 until today by a whopping 238 per cent. The markets are directly reflective of sentiment toward an asset and its fundamental characteristics. Where those fundamentals, in the case of a currency as opposed to a stock or commodity, are political, the sentiment about the politics of the nation, expressed as willingness to own its currency, is indefatigable. USD TRY UP.
Politics and Nature Moving Markets
Daily Analysis - 16/01/2018