On the way to above 20

Next week USDTRY should break above 10, followed by a brief correction. The transition from 10 to 20 can take less than a month (the Russian Ruble crashed from 6.40 to 20.6 in three weeks in 1998).

A crash of Lira is detrimental for EU banks: Deutsche Bank will go full kaput and the Euro will crash to 0.88 at the same time.