Comments by Turkish finance minister Berat Albayrak

Not sure if he is speaking about the central bank's rate hike or Erdogan's comments on the central bank and interest rates really. With Erdogan looking adamant to have things go his way, it's not looking up for the CBRT if they want to raise rates further if needed.

As for the lira, it continues to trade narrowly against the dollar on the day. As mentioned yesterday here, the spring is still being coiled right now as we await the next big break in the lira to come.