Open Demo Account
Home / Market Update / Forex Market / Turkish Lira Gained Around 5% on Monday Following CBRT News

Turkish Lira Gained Around 5% on Monday Following CBRT News

Adel 10 November, 2020 5:27 pm Forex Market, Market Update

The Turkish lira recorded a new low on Monday against the US dollar, with the USD/TRY to the 8.40 area on Tuesday, but some initial resistance has begun to appear.

The lira recorded the biggest one-day advance against the dollar since 2018 after traders considered the news about the dismissal of CBRT governor as optimistic news alongside the former finance minister resigning from his post due to health conditions on Sunday.


At the time of writing, the pair rose by 2.40% to 8.2350 and the next resistance at 8.5777, while a drop below 7.9876 paves the way towards 7.7916 and finally 7.7787.

Tags

Check Also

European Stock Markets Mixed Amid Chinese Support and Focus on Trump’s Davos Speech

European stock markets traded with mixed results on Thursday, with investor sentiment buoyed by fresh …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends