The Turkish Lira has been dumped in very thin early Asia trade after President Erdogan fired the governor of the central bank:
The USD and yen benefitted on haven gaps in early trade on this:
Its left a bunch of gaps across the board, AUD/USD, NZD/USD, EUR/USD and more. These knee jerk responses are likely to be retraced over coming hours, the moves have come in super-thin trade (the usual for Monday Asia early) and once the TRY longs have exited and licked thioer wounds normal service in major currencies will resume.
AUD/JPY for example (note the gap). The developments in Turkey are not a game-changer outside of TRY.
