Advertisement
Advertisement
Advertisement
24option
BREAKING NEWS : $500 - $5000 No Deposit Bonus Hurry up, Join Now!
Written by experienced traders and professional market analysts, our Forex technical analysis is just what you need to get an edge in your Forex trading
Advertisement

Possible sanctions on Turkey likely to trigger a substantial sell-off in lira - Rabobank

Written by By Eren Sengezer | 2019-10-09 16:12:37 GMT

"President Erdogan announced in a tweet that his country started a military incursion into Syria," noted Rabobank's emerging markets FX strategist Piotr Matys.

Key quotes

"In the worst case scenario – should the selling pressure on the lira escalate significantly on the back of a rising chance that the US Congress announces punitive measures against Turkey – Governor Uysal may have to seriously consider what his predecessor Cetinkaya (and before him Basci) had to do: raise interest rates to defend the lira."

"Admittedly, it is too early to consider such an option as the lira would have to fall precipitously. That said, we had the opportunity to witness on Monday what sort of damage an inflammatory tweet from President Trump can cause when he threatened to “totally destroy and obliterate the Economy of Turkey.”

"Should US Congress decide to impose sanctions on Turkey for its military incursion into northern Syria, it is likely to trigger a substantial sell-off in the lira. Trying to convince President Erdogan that an emergency rate hike is required to reduce the risk of a currency crisis is likely to prove a tremendous challenge for Governor Uysal – a challenge that he is hoping that he will never have to face."

Author

By Eren Sengezer

Start Trading With Top Industry Brokers

Broker Profile Open Account
Capital Index
  • Minimum Deposit: 50 USD
  • Leverage of up to 1:500
  • Broker Type : STP
  • Regulation : FCA (UK), ASIC, SCB
  • HotForex
    XM
  • Minimum Deposit: 5 USD
  • Leverage of up to 1:30
  • Leverage applies to all EU regulated entities of the group. Leverage depends on the financial instrument traded.
  • Broker Type : Market Maker
  • Regulation : CySEC,ASIC ,FCA
  • XM
    Tickmill
  • Offer: 30USD No Deposit Bonus
  • Minimum Deposit: 25 USD
  • Leverage of up to 1:500
  • Broker Type : ECN/STP & STP
  • Regulation : FSA SD008
  • Tickmill

    The Best Crypto to Crypto

    Exchanger Advantages Open Account
    binance
  • Safety Stability: Multi-tier & multi-cluster system architecture
  • Binance charges a quite low commission fee
  • Multiple-Coin Support : BTC, ETH, LTC, BNB...
  • High Liquidity
  • Multiple-Language Support
  • binance
    changelly
  • Instant cryptocurrency exchange
  • More than 500,000 satisfied users
  • Changelly charges a quite low commission fee
  • Safety Stability
  • changelly
    bitmex
  • Bitmex - Bitcoin Mercantile Exchange is a cryptocurrency derivatives trading platform.
  • Bitmex charges a quite low commission fee
  • Safety Stability
  • changelly

    Best Brokers to Trade Crypto

    Broker Profile Open Account
    Capital Index
  • Minimum Deposit: 50 USD
  • Leverage of up to 1:500
  • Broker Type : STP
  • Regulation : FCA (UK), ASIC, SCB
  • HotForex
    XM
  • Offer: 30 USD No Deposit Bonus - 50% Deposit Bonus
  • Minimum Deposit: 5 USD
  • Leverage of up to 1:500
  • Broker Type : Market Maker
  • Regulation : CySEC,ASIC ,FCA
  • XM
    FBS
  • Offer: 50USD No Deposit Bonus
  • Offer: 100% Deposit Bonus
  • Minimum Deposit: 1 USD
  • Leverage of up to 1:500
  • Broker Type : Market Maker
  • Regulation : CRFIN (Russia), 009069697 IFSC (Belize), IFSC/60/230/TS/12
  • FBS

    Contact us
    fxvnpro@gmail.com
    kieuthanhgc@gmail.com