Turkish Lira Tumbles On Soaring Unemployment, “Absolute Shitshow” Investor Meeting

Original post

The collapse in the Turkish lira is accelerating this morning, with the USDTRY rising above 5.80 for the first time since last October and CDS pushing to September highs, as the Turkish economy continues to slide ever deeper into recession, with the country on Monday reporting that a whopping 366,000 people became unemployed in the last month, sending the country’s jobless rate to the highest level in a decade.

With Ankara trapped, unwilling to let the lira devalue on fears

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