Discover and read the best of Twitter Threads about #TurkishLira
Most recents (3)
#Turkey 🇹🇷 under #Erdogan has been relatively successful at pursuing a pseudo third-worldist policy that paints Ankara as the defender of oppressed people worldwide.
Thread 🧵. (1/9)
Thread 🧵. (1/9)
What the #west isn’t saying about the #TurkishLira crisis, is that it’s a deliberate devaluation, a policy pursued by #Turkey 🇹🇷 to make the country more attractive and accessible to poorer countries, & NOT a function of Erdogan’s economic heterodoxy (2/9)
A less valuable Lira creates a bigger barrier between Turkish society and the 🇪🇺, making it harder and more expensive for most Turks to go to Europe. (3/9)
bbc.com/news/world-eur…
bbc.com/news/world-eur…
1/ Patiently waiting for the reaction of fx markets to the sacking of #Turkey's central bank governor Naci Agbal.
His successor has some funny ideas: “interest rate increases will indirectly lead to an increase in inflation”.
His successor has some funny ideas: “interest rate increases will indirectly lead to an increase in inflation”.
2/ Will there be a crash of the Turkish lira tomorrow? Probably yes! But markets did not react to the appointment of Uysal in 2019 and rather slowly to his rate cuts. I am still pretty sure, the lira will depreciate strongly though.
3/ Furthermore, markets reacted with a little bit too much confidence in the ability of Agbal to bring down inflation and stabilize the liras value. While he was successful, it is still Erdogan who is the man in charge ultimately and he likes his rates low
Turkey used to be a “trusted NATO ally” and a reliable friend for U.S. administrations, however things changed since the rise of Erdogan and his religious radicalization and Trump’s administration only deepened the rift. Energy has always been the driver of geopolitics and..
... the cause of wars over centuries, Turkey’s gas find will not be overlooked by the superpowers and it can be a bargaining chip for Erdogan (which hegemonic faction will he pivot to - China or U.S.?). Be cognizant of how countries will react to this..
... Nonetheless, this is positive for the Turkish economy and Lira (which has been heavily battered) in the long run. Find out more about how we make sense of daily headlines by subscribing to the full report here:
trackrecordasia.com/sign-mailing-l…
#TR2min #TurkishLira #forextrading
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#TR2min #TurkishLira #forextrading
