The Turkish lira is struggling to defend itself against the euro but in recent sessions, its seen slightly rebounding. The reason for the rebound was the recently rolled out stimulus measures to cushion the blow of COVID-19 to the Turkish economy. The number of coronavirus cases in Turkey recently saw a big spike, recording more than 500 new cases just yesterday. The massive surges raise the number of infections to about 2,433 as of writing. While the death toll in Turkey reaches 59. Turkish Health Minister Fahrenttin Koca said that among the 5,000 plus tests that were conducted, it was found that about 561 people were infected by the deadly virus. While in Europe, leaders from the region ditches austerity to help fight the pandemic with full force in terms of cash. A French official said that the countries in Europe are failing to communicate through the response measures, this leaves space for vulnerability for the single currency.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.