Experts say direction of Turkey-US relations to determine value of TL in coming days

Global experts say the reflections of sanctions to be imposed by the USA on Iran are likely to have an impact on the direction the dollar/TL rate which may show us a falling trend in TL value, again.

It was observed that the US dollar/TL had fallen to 5.55 thanks to the optimistic atmosphere in the markets that relations with USA would be improved following the release of US priest Andrew Brunson. However, there seem to be concerns that this trend is here to stay as the dollar exceeded 5.0 yesterday, signaling it might start following an upward trend again.

To provide an example international credit rating agency Standard & Poor’s (S & P) noted that in Turkey’s foreign credit conditions were vulnerable to deterioration.

As announced by USA earlier Trump administration have decided to implement sanctions on Iran starting 4 November 2018 and thus all eyes are on said sanctions to be put into effect by the States and the attitude Ankara is to adopt in return, regarding the issue. Experts comment that unless the threat imposed by the eventual US sanctions on Iran disappear, the fluctuations in the market will not come to an end as concerned sanctions will be decisive in the development of US-Turkey relations in the coming period.