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The Turkish lira tumbled to its biggest decline and to a record high against the US dollar and the British pound while it plummeted more than 6% versus the euro since the beginning of this month. Following the brief pause seen in May against its 3 majors, (USD/TRY -0.35%, EUR/TRY -2.45% and GBP/TRY -0.74%) with the biggest gains against the euro, the Turkish lira came under pressure and sold heavily few days ago on the back of the election results in the country.
Read full article (JFD Research, June 2015)