Turkey is reportedly working to issue a blockchain-based national digital currency and expected to finish testing in 2020.
The Huobi exchange will soon allow residents of Turkey to buy cryptocurrencies with their local fiat currency, the Turkish lira.
The Turkish Lira continues to depreciate in the second half of the week and is now lifting USDTRY to fresh two-month tops around 5.80.
The Turkish Lira is depreciating vs. the Buck for another session and is pushing USDTRY to weekly tops beyond the 5.61 handle, where some decent resistance has turned up.
The Turkish Lira is extending the selling bias at the beginning of the week and is now lifting USDTRY to fresh multi-day tops in the 5.57 area.
Political tussle between the US and Turkey keeps the USDTRY pair above 200-DMA despite broad trade political pessimism surrounding the US Dollar.
After briefly moving above the 5.61 handle, USDTRY met some selling impetus and is now returning to the sub-5.60 region.
In this USDTRY analysis, the Turkish Lira is picking up further pace today and pushes the pair to fresh tops in beyond the 6.10 mark.