Woes of the Turkish economy are continuing along with the melting of the value of the Turkish Lira (TL).
In the last few days, the US dollar lost substantial ground against many currencies, but not against the TL. This shows how weak the TL is. The US Dollar Index is near a key resistance price and should start to get stronger against most currencies, but especially against the TL. Also, TL has reached a major support price and started to rally. Buying it at 3.5350 or better with a profit target of 3.7325 could be a good idea.
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