The dollar traded sharply higher versus majors as investors fled into the safe heavens following the collapse of the Turkish lira and the negative effect of it on major European banks. The Euro traded at fresh 2018 lows versus the dollar, closing at 15 months lows just above the 1.14 level. The Turkish lira collapsed to a record low versus the dollar trading Friday as low as 6.9 versus the dollar, leaving EU markets in limbo over the weekend and in expectation of a reversal in the trade Monday. EU markets traded sharply lower led by the DAX, down two percent on the day and it remains to be seen if the pullback in the markets will extend into the Monday session and disturb the summer holiday mood for the EU markets.
There is no important news on the agenda Monday.
Swing trades follow up
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