World-Leading Lira Rally Turns Bank Analysts Into Bulls
- The currency has led global gains since November shakeup
- Strategists are betting on further appreciation in near term
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The Turkish lira’s hot start to 2021 is even winning over some skeptics who are betting on further gains in the months ahead.
The currency has jumped a world-leading 23% against the dollar since President Recep Tayyip Erdogan overhauled his economic policy team in early November. That shakeup buoyed investor optimism that Ankara would take a more orthodox approach to managing one of the Middle East’s largest economies.