In the early part of London, the Turkish lira’s plunge has calmed down. In the early morning of Tokyo at the beginning of the week, the dollar strengthened and the lira weakened to the 9.8500 level, and the lira recorded the lowest price in history. After that, buying and selling were mixed, and in the morning of London, it rose to 9.83 again. At the moment, 9.72 units and lira sales have stopped.
However, the dollar is still stronger and the lira is weaker than the closing price of 9.6085 last weekend, and it continues to be in the lowest price range.
The background was that President Erdogan warned that ambassadors from 10 countries including the US and Europe would be deported in response to a joint statement by US and European countries requesting the release of Turkish businessmen detained in Turkey.
Turkish lira is swamped. There is no hope of recovery for now. We plan to consider selling TRY this week.