Lira Fights Back But USDTRY Stays Up As Turkish Protests Heat Up
Portfolio Pulse from
Turkey is experiencing significant political turmoil following the arrest of Istanbul Mayor Ekrem Imamoglu, leading to violent protests and economic uncertainty. The Turkish lira has dropped to all-time lows, with investors concerned about potential hyperinflation. The Turkish central bank has intervened by selling $20 billion to support the lira, but political tensions are undermining these efforts.
March 25, 2025 | 1:30 pm
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The USD/TRY currency pair is experiencing upward momentum due to political uncertainty in Turkey, with potential to test resistance levels around 38.15 and 38.25.
Political unrest, inflation fears, and central bank interventions are driving the USD/TRY pair higher. The currency pair is likely to continue its upward trend if it maintains levels above 37.85.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100