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Thinking of trading USDTRY?

    1. The USD is without a doubt the most important currency of the world economy. At one point, all other currencies were pegged to it in one form or another. The USD is the most traded currency in the world as well as the most popular reserve currency.w which makes the pair quite strong2. Moreover, the Turkish economy has been strengthened and the Turkish Lira is quite stable as well so USD/TRY is a good pair to invest in.
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How would you like to trade USDTRY?

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Having started the floating trend back in the 1970s, the USD is indeed a floating currency. That does not mean of course that it is completely unleashed from all control, like some of the other floating currencies out there. The Federal Reserve is rather strict in keeping the greenback on a leash, through the manipulation of its interest rates.The Turkish Lira was last introduced to the world markets in 1844. Since then, its ride has been anything but smooth. It went through periods of fierce devaluation, so in 2007, a new Lira version was introduced, which set the parity with the USD to 1.26. The exchange rate has remained relatively stable since, as a result of the new monetary policies of the Turkish authorities and the strengthening of the Turkish economy. Agriculture serves as the bulwark of the Turkish economy, though manufacturing is a significant part of it too.Despite the size and strength of the Turkish economy, the Turkish Lira (TKY) is not a major currency. The USD on the other hand is indeed just that. The pair that the two currencies make does not qualify as a major, or as a commodity pair.

1. As the economy relies on foreign cash looking to earn short term profits on higher interest rates, any global headwinds and the subsequent risk off environment can lead to massive depreciations of the Lira. 2. In 2018 Turkey was having a balance of payments problem that caused its currency and credit and equity markets to decline. If you were day trading the USD/TRY and trying to profit from small moves in the market that end up looking infinitesimal on a broader time horizon, you might have had problems if you kept on the side of the Turkish lira.