Analysts at Morgan Stanley say the dollar can appreciate more versus the Turkish lira.
The dollar has been rising versus the Turkish lira since it became apparent that Turkey was heading for an election runoff that President Recep Tayyip Erdogan would be likely to win, and analysts at Morgan Stanley say there’s much further room to run now that the 69-year-old has triumphed.
Erdogan... The dollar has been rising versus the Turkish lira since it became apparent that Turkey was heading for an election runoff that President Recep Tayyip Erdogan would be likely to win, and analysts at Morgan Stanley say there’s much further room to run now that the 69-year-old has triumphed.
Erdogan on Sunday won by a 52% to 48% margin over opposition leader Kemal Kilicdaroglu. Erdogan’s view is that higher interest rates cause higher inflation, a stance that has hamstrung its central bank, with the Turkish Statistical Institute recording inflation at 44% in April.
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