USD/TRY will likely make new all-time highs - BBH

Research Team at BBH, suggests that the Turkish President Erdogan chairs a meeting today of the National Security Council. 

Key Quotes                               

“He will then chair a council of ministers meeting, and said that an “important decision” will be announced afterwards.  Markets have reacted badly to the ongoing purges of the judiciary, military, police, and academia.  If Erdogan announces more draconian measures, we suspect that USD/TRY (which made a marginal new high for this move) will likely make new all-time highs.”