Turkish lira: roller coaster continues
Forex Analysis

Turkish lira: roller coaster continues

How much unexpected news the Turkish lira can handle? Just two months have passed after Turkish President Tayyip Erdogan fired the central banks governor and replaced him with Sahab Kavcioglu, who was expected to conduct a policy of low-interest rates. That is, the president created conditions for extremely high inflation and lower economic growth. However, the challenges for the Turkish lira were not over. On Monday, April 26, the Turkish lira plunged on the straightforward comments of US President Joe Biden. So, what exactly happened?