USD/TRY touching new session highs, recovering from yesterday's close of 4.59
The lira is once again the worst performing emerging market currency on the day, down by more than 1.7% against the greenback currently.
And poof, it's now passed 4.6600 against the dollar.
The CBRT raised its main lending rate by 300 bps overnight here, and that helped to stem the bleeding in the lira and helped the currency recover from 4.90 levels to 4.59 into yesterday's close. But the relief is starting to fade, as the currency is being sold off again as we get into European trading.
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