Turkish lira falls as unemployment skyrockets

The Turkish lira is the weakest currency on Monday as the unemployment rate in Turkey jumped to 14.7% - the highest level in more than 10 years! The lira is down against the dollar nearly 4% in April alone even though most of other emerging market currencies advanced in that time-frame. USDTRY trades at 5.80 and is close to a local high of 5.8425 from late March. There is also a strong zone between 5.90 and a psychological level of 6.00.  

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