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Turkish lira volatile after a decision on pastor Brunson

2:36 PM 12 October 2018
A long awaited decision on a future of the US pastor Andrew Brunson has just been taken by the Turkish court. Following 2 years of detention the pastor has been freed and will be able to return to the US. This story has become critical for the FX market as deteriorating relations between US and Turkey led to the FX crisis on lira and a decision on pastor has been seen as the first step towards a normalization. The reaction on USDTRY is mixed as the pair hovers around 5.90. However the lira has been gaining in recent days and crucially the key 6.00 barrier has been broken.
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