Lira Losses Keep watching those emerging currencies, because this isn't going away. Turkey's lira fell again by as much as 11% this morning (that's over 40% this year so far) before the country's central bank moved to limit currency swaps. Asian stock markets fell too, as did South Africa's rand, the Russian ruble, and the Indian rupee as investors sought safe havens. Even the euro slipped. The European banks that have lent to Turkish businesses, such as Spain's BBVA and Italy's UniCredit, are central to contagion fears. Guardian
Let me answer my own question. You can trade Lira futures with US$, Euro, GBP ... through Budapest, ICE US, CME exchanges. You can trade spot forex with euro, gbp yen, us$ etc etc etc
Lira Bounce The Turkish lira popped 6% in early trading today, providing respite from what was looking like a freefall situation in recent days—the currency lost 13.8% of its value Friday and 6.3% yesterday. Other emerging-market currencies such as the South African rand and Mexican peso also rose slightly. But President Erdogan shouldn't rest easy. "Even if the political stand-off between Turkey and the U.S. somehow got resolved, the lira would only partially recover," Commerzbank analyst Antje Praefcke told the Financial Times. FT
Garanti TKGBY AK Bank AKBTY Halk THBIY https://finance.yahoo.com/quotes/us...s,garan.is,vakbn.is,akbty,tkgby,thbiy/view/v1 .
Turkish Tariffs Turkey has expanded its tariffs against imported American booze, cars, tobacco, cosmetics, rice and coal, in retaliation for the U.S.'s expanded tariffs on Turkish metals. After today's announcement, the lira slid but then rallied (which was also due to the country's banking regulator limiting swap transactions). Yesterday, President Erdogan continued to express defiance against the U.S. onslaught, urging a boycott of U.S. electronics such as the iPhone. Financial Times
Turkey and Qatar However, the Turkish lira—the apparent collapse of which hit emerging markets hard—is rallying again today. The reason is Qatar's announcement of a $15 billion investment in Turkey, to help stabilize things. Remember that the smaller state is currently a pariah in its region, with neighbors such as Saudi Arabia, the UAE and Bahrain having cut off diplomatic relations and imposed a blockade, partly due to Qatar's friendliness towards Iran. Who stuck up for Qatar when that crisis hit last year? You guessed it: Turkey. New York Times
"Turkish cenbank's deputy governor Kilimci to resign - sources" https://www.reuters.com/article/tur...ernor-kilimci-to-resign-sources-idUSL8N1VL3TI "Lira Plummets After Turkish Central Bank Deputy Governor Quits" https://www.zerohedge.com/news/2018...er-turkish-central-bank-deputy-governor-quits keywords: Erkan Kilimci .
Contagion is less likely, as a result of a sharp decline in cross-border capital flows, which have dropped from $12.7 trillion in 2007 to $5.9 trillion last year. Europe led the retreat from international activity.