Turkish Lira Swings Violently As Erdogan's Economic Plan Spooks Traders
Zero Hedge -

The Turkish lira swung violently, rising to session highs then slumping 1.5% after Turkey presented its medium term economic plan, which together with last week's massive 625bps rate hike was supposed to restore investor confidence in the country's struggling economy.

The Turkish Lira first rose 1.9% during the speech delivered by Turkey's finance minister Berat Albayrak in which he revealed targets for growth and inflation that signaled a somewhat realistic assessment of the economy and its...

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