"God Help Turkey": FX Confiscation Rumors Launch Lira Meltdown As Yields Explode

Turkey Lira once again the worst performing currency against the USD. As the Turkish Lira drops to a fresh all time low. As Bloomberg reports this morning, one brokerage is looking for help from a higher power: "God help Turkey" Istanbul-based broker Alnus Yatirim said in the sign-off to its morning note to clients on Monday. "We’re faced with a central bank that is watching the market when it needs to lead and direct it."