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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

EURTRY surges on Erdogan comments

14:47 17 September 2018
The Turkish lira surges last Thursday after the CRBT announced a larger than expected interest rate hike but new doubts have send it lower on Monday. USDTRY gains 2% and EURTRY 2.6% on Monday after revelations that Erdogan seeks a nationalization of a 28% stake in the largest listed domestic bank (Isbank) that is currently owned by an opposition party. The move would be seen as another sign of unpredictability just in time when the lira needs a period of calm. A rise in EURTRY and USDTRY defies a general market sentiment where the dollar pulls back, especially against the SEK (-1.2%). The key level to watch on USDTRY is 6.35.

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