The Turkish Lira Is Getting Slammed Again

The currency is at new record lows

After a few days of relative calm, the Turkish lira is back setting record lows against the U.S. dollar this morning.

This chart shows the intraday move.

usd try mar 13

The lira has fallen 13 percent against the dollar so far this year, driven to some extent by Turkish President Recep Tayyip Erdogan's disagreements with his central bank on monetary policy.

The Prime Minister's office in Turkey issued a statement on Tuesday praising the central banks performance since 2002, which was expected to help ease those tensions.

Any respite that gave the currency has been short-lived.

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