Euro and sterling surged against the Turkish Lira

The US dollar and British Pound Sterling on Monday surged against the Turkish Lira.

With the increase in geopolitical risks of the referendum in northern Iraq, the bullish trend of US dollars to the Turkish Lira that began last week continued today

The dollar which started this morning at 3.50TL, rose to 3.53TL per dollar, the highest level since August 18th while the Euro continued to be traded at 4.2022.
 
Also, the Pound sterling which started the day at 4.7545TL rose to 4.7561TL.

Following the election in Germany on Sunday which saw Angela Merkel re-elected for a fourth term as German Chancellor, as well as the European Central Bank's (ECB) President Mario Draghi's speech, analyst predicted that the Turkish Lira to the dollar would have fallen to below 3.52, to 3,46.