Comments by Turkish president Erdogan on the day
- Rejects suggestion that he has influence on monetary policy
- Says interest rate increase earlier this month is a sign of central bank independence
- Says that he is against high interest rates as it will scare away investors
- Says Turkish lira's slide is not linked to diplomatic row with Washington
- Says that court, not politicians, will decide fate of pastor Brunson
He seems to be in a different mood today, but a tiger never changes his/her stripes. And the market certainly knows Erdogan's true colours by now. Meanwhile, the lira continues to consolidate in the wedge highlighted at the start of the week:
An imminent break looks closer and closer now.
