Two things I never thought I would say in EM FX:
a) TRY reached 7 before CNY
b) TRY dragging CNY towards 7
Yes, we are here. What will happen this afternoon? Why do you think there's panic in TRY? Fear of CAPITAL CONTROLS. Maybe something good'll happen but man…
We are HERE pic.twitter.com/jqQWtMEj54
— Trinh (@Trinhnomics) August 13, 2018
As the Lira gyrates looking for direction of support, it swung to PARITY W/ THE CNY today.
TRY = CNY
Captured this (Bitter) Sweet FX moment đ¤˘Â Time to think about disclosures at the back of sales pitch (strategists take NO RESPONSIBILITY FOR UR TRADE & INVESTMENTS HAVE RISKS). pic.twitter.com/bEuNn7ivA5— Trinh (@Trinhnomics) August 13, 2018
KIM DOTCOM: THE BIG CRASH IS COMING 100% pic.twitter.com/hxuerV3ek8
— Alastair Williamson (@StockBoardAsset) August 12, 2018
— Alastair Williamson (@StockBoardAsset) August 12, 2018
#Breaking In apparent sign of beginning capital controls, Turkey's second largest bank Garanti has informed clients of FX suspension in USD, EUR and GBP. Only open positions can be closed pic.twitter.com/fA5It9fmC4
— Gregor Peter (@L0gg0l) August 12, 2018
dollar blows up world
— Alastair Williamson (@StockBoardAsset) August 13, 2018
#Erdogan today:
1) Threatened industrialists for dumping their Turkish lira
2) Threatened businesspeople for not selling their products
3) Threatened the US with consequences in the region & on the US soil.
4) Threatened with slashing interest rates as opposed to expectations.— Abdullah Bozkurt (@abdbozkurt) August 12, 2018
World on brink of GLOBAL crisis as lira plunges to ALL TIME LOW pic.twitter.com/wFirkylq3V
— Alastair Williamson (@StockBoardAsset) August 13, 2018
"August is always a popular month for an EM crisis." – Deutsche Bank
— zerohedge (@zerohedge) August 13, 2018
BBG: Global markets and emerging currencies are reeling from the Turkish crisis pic.twitter.com/sprn3cShFX
— Alastair Williamson (@StockBoardAsset) August 13, 2018
W A R N I N G pic.twitter.com/C5itLdOirK
— Alastair Williamson (@StockBoardAsset) August 13, 2018
It is beyond his control
âMoney, capital has a life of its ownâŚitâs a force of nature, like gravity, like the oceans it flows where it wants to flowâ ~ Maxwell Emory – Rollover 1981 $SPX $DXY $TLT t.co/AE5040L1ht
— Ed âŻď¸ Humilitatem (@DowdEdward) August 12, 2018
#Turkey #TurkeyCrisis #Lira pic.twitter.com/kbQsYsV7AJ
— Alastair Williamson (@StockBoardAsset) August 12, 2018