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Turkish Lira EXPLODES Higher After Stunning Central Bank Move

Joe WeisenthalJan 29, 2014, 03:44 IST

BOOM.

After Turkey's central bank just hiked rates by much more than expected, the Turkish lira is exploding.

Here's a chart of the Euro vs. Turkish Lira. You can see the Lira is exploding higher, by dint of the fact that the Euro is falling so sharply against it. A similar move is happening against the dollar.

This chart is via Michael Hewson:

Michael Hewson