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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.

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