Damage to Lira by Erdogan’s interference contained
Cross-currency swaps are holding within their recent trading range below the 20% mark, as investors fail to panic
08 July 2019 - 14:00
Istanbul — Traders are not pricing in another full-blown policy blunder despite President Recep Tayyip Erdogan’s latest encroachment on central-bank independence.
Cross-currency swaps — which gauge the market’s appetite for lira risk — held within its recent trading range below the 20% mark, trimming an increase of about 100 basis points during early trading...
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