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Why I am negative on the Turkish lira: Jakobsen
Steen Jakobsen
12 May 2016 at 12:19 GMT
Video / 12 May 2016 at 12:19 GMT

Why I am negative on the Turkish lira: Jakobsen

Steen Jakobsen
Saxo Bank chief economist Steen Jakobsen is changing his outlook for Turkey to negative. Even though the Turkish stock market has recently seen a 10% gain, current developments could damage the positive outlook. 

There is political turmoil in Turkey after the prime minister stepped down and the shaky refugee deal with European Union could create a re-emergence of the refugee crisis. According to Jakobsen, the refugee crisis currently poses a greater macro risk than does the Brexit vote. 

Jakobsen is trading USDTRY at 2.92 with a stop at 2.89. 

3y
Asterix Asterix
should stop 2.98 read 2.89?
3y
Asterix Asterix
IS this clip recent? timestamp today 1pm? USDTRY trading at 2.9540 (todays range (2.94-2.955) and assume that bearish outlook means going long the pair

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