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What does a fail coup look like in a currency chart

News by Simon Kazinsky on 10:13 July 18, 2016 EST

The answer, not much. The Turkish lira has been depreciating against the US dollar for the last few years, similarly to currencies of other emerging countries.

As can be seen on the monthly chart the candle for the month of July is unlikely to look very different to others for this currency pair.

Although it is a weak currency the Turkish lira offers a high yield. Turkey's central bank holds its key interest rate at 7.5%, miles away from the depressed rates for all major economies.