The Turkish lira hugely dropped today, which pushed USD/TRY up to highs unseen since November 2020.
Tag - usd
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A few months ago, USD/CHF was at strategic lows of 0.88. Recently, it beat 0.90 and aims higher. What's happening?
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The Turkish lira hugely dropped today, which pushed USD/TRY up to highs unseen since November 2020. Oil started recovering its losses after the worst week since October.
For the last two weeks, the Turkish lira has been gaining against the USD. Suddenly, 15% were reduced from its value in one day! Let's discover what happened.
Turkey's bank raised rates, that sent the Turkish lira soaring. But technical analysis shows that USD/TRY should reverse up .
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The Fed pledged to keep near-zero rates at least through 2023. The dovish message pressed down the US dollar. As a result, EUR/USD and GBP/USD surged.
FOMC's report provided positive feedback on the current domestic US economic dynamics. However, a rather dovish outlook made the US dollar weak, resulting in the USD's plunge in the currency pairs across the Forex market.
Time to case-test a triangle chart formation with NZD/USD