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Thinking of trading EUR/TRY?

    1. Despite its shortcomings and vulnerabilities laid bare by the 2008 economic crisis, the EUR is set to continue to expand - at least on paper. Several nations are required by treaty to eventually join the Eurozone, but some of these EU members have been dragging their feet on the issue lately. 2. The EUR/TRY pair is a pretty volatile one, thus it offers speculators high risk opportunities quite often.
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How would you like to trade EUR/TRY?

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Trading CFDs involves significant risk of loss

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Trading CFDs involves significant risk of loss

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Trading CFDs involves significant risk of loss

Euro is indeed the second most traded currency in the world as well as the second largest reserve currency. Introduced in 1999, it has represented the biggest and most ambitious attempt in history at creating a lasting currency union that would eventually encompass an entire continent. Introduced way back in 1844, the Turkish Lira is mostly known for its massive devaluations over the years. During its long history, it was pegged to other currencies several times. In 1946, for instance, it was pegged to the USD and the French Franc. The TRY's first devaluation came in 1960, when it was pegged to the dollar again, following this initial meltdown. Up until 2001, its value withered away spectacularly, sometimes at the staggering rate of 40% a yearEUR/TRY represents the amount of TRY one will need to purchase a EUR.The EUR is a major currency, while the Turkish Lira (TRY) isn't considered one. The overall small influence of the latter on the global economy means that the pair isn't a major currency pair either.

1. The volatility of this pair used to be a lot more than it is now this is due to monetary policy aiming to maintain price stability in the Euro-Zone. Hence investors are not quite as attracted to it now. 2. Investors should monitor the monthly ECB (European Central Bank) reports release, with it, investors will be able to see data provided on the economic outlook of the European Union and the levels of interest rates throughout the EU, forecasting its impact on the pair.

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