Turkey’s Lira Keeps Calm in Descent to Records: Chart of the Day
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Traders in the Turkish lira are showing limited signs of panic as the currency tumbles to repeated records against the dollar, signaling the possibility of further declines.
The CHART OF THE DAY shows the lira dropped to 2.5149 to the dollar on Feb. 11, 5 percent weaker than the then-record 2.39 reached in January 2014. Three-month implied volatility on the lira, a measure of market fear, was no higher than 14.8 percent this year, compared with 19 percent in 2014.