USDTRY soars to the highest level in 7 weeks

The Turkish lira is a big loser on Wednesday even though the central bank left interest rates unchanged. Traders are increasingly concerned about a renewing diplomatic rift between Turkey and the US and that leads to prices increases on USDTRY. The pair soars nearly 1% to 5.42 – the highest level since 16 January.

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When performing transactions in the OTC Forex market, the possibility of making a profit is inextricably linked with the risk of losses.