Fundamentals were too strong against this trade. I just seen this now. I've been long USDTRY because I am not optimistic about the finances in Turkey. There is a chance they will be downgraded. They are also moving closer to Russia and most of their debt is denominated in USD. I speculate that Erdogan will pursue more spending and will be unable to meet its obligations.
FatihAykac
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so it is arround to come back right?
hankle
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@FatihAykac, maybe, but look at the long term chart. It could also just be a leg up. In addition, significant news is coming out of this country that is fundamentally hurtful for TRY.