On Monday the Turkish Central Bank governor was dismissed by presidential decree catching markets by surprise. FX spot market reacted with short-term volatility whereas rollovers involving Turkish currency experience a very significant spread increase to as big as 20'000 pips in the interbank market. Dukascopy likes to draw the attention of our clients to changes in the overnight swaps of EUR/TRY, USD/TRY and TRY/JPY, actual rates are published on our website.
Dukascopy is monitoring the situation closely and will react to changed market conditions rapidly and make several changes per day as deemed necessary without additional notice.