country flagالعربية

The Turkish lira is stabilizing against the dollar due to Eid al-Adha

2018-08-23 07:38 am | Resource: News | No Views : 377

The Turkish lira has fluctuated against the US dollar since the beginning of trading this week after the large movements of the Turkish currency over the past two weeks after the large decline two weeks ago in the exchange rate of the Turkish lira due to trade and political tensions between the United States and Turkey and the subsequent mutual accusations

US demands for a Turkish ally were rejected by Erdogan, the most prominent of which was the release of an American patron held by the Turkish government in Ankara on charges of participating in the failed coup attempt in 2016, as well as abandoning the idea of ​​buying the Russian missile system S400, which represents a threat from the point of view and Washington

The demands were rejected by Erdogan and demanded that the Turkish people boycott US goods, denounce the US economic war and his statements to Turkey's search for other allies.

Which resulted in several US punitive measures, including the imposition of sanctions on several Turkish banks in addition to two Turkish ministers, which was reciprocated by Turkey, and finally the United States looms to remove Turkey from the F-35 aircraft manufacturing project

US and Turkish interests intersect in a number of undeclared axes, where the United States differs from Turkey in the policy followed by Syrian territory. Washington also does not feel comfortable with the Russian-Turkish rapprochement on the one hand and the Turkish-Iranian rapprochement on the other.

Under the US president's tough trade policy and the tendency to restrict international trade and impose tariffs on several allied countries, not Turkey, the EU, Canada and Mexico, as well as China's closest rival, China

The statements of solidarity with the Turkish government came out of several countries, notably Iran, China, Pakistan and Russia. The State of Qatar also announced a direct investment in Turkey worth 15 billion dollars

Turkish Lira

With the closure of Turkish markets for about a week on the occasion of Eid al-Adha. The Turkish lira exchange rate did not change much against the US dollar at 0453 GMT. The lira hit 6.0314 against the dollar, close to Wednesday's close of 6.0330 and down 37% this year.

Other analysis

Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 17 April 2019

We offer you the analysis of the US dollar against the Japanese Yen on Wednesday, April 17, 2019 with the most important expectations for the dollar against the Japanese yen on the market. Time frame Used - four hours The USD/JPY is moving in a bullish direction in the near term. USD/JPY is still facing resistance and selling pressure around 112.10 as the USD-JPY closed yesterday's session down below 112.00…

More analysis

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.