USD/TRY plummets to 12-week lows below 5.45 on fresh political developments

The USD/TRY lost more than 300 pips in a matter of minutes and fell to its lowest level since the record-setting rally witnessed back in early August on reports of the United States removing Turkish ministers from its sanctions list. As of writing, the pair was trading at 5.4450, losing 1.25% on a daily basis.