Turkish lira loses against dollar- record low
Dollar is a little bit more 'stable' now, but I write things when the topic is clear enough to make it solid. Fed has problems to cope with. Rates are still low, and there are future risks for keeping rates low while the financial environment is suitable and nurturing such increase: Loss of credibility, asset bubble, too low unemployment rate-severe inflation and so on. Inverstors agree with me I think. So, even though there is no such a decision of increment in interest rates nor probably will not be in November, Turkish Lira decreased to its record low, $/₺ @3.1124 in Wednesday.
The only driver of this rise is not stronger expectations of an interest rate increase-, it is also because of the stronger expectations of the removal of parliamentary governance by public opinion and an executive presidency of Mr. Erdogan- which is a risk for many.
Nothing is wise itself but time.