The Turkish Lira crashed 20% within a few days and the fall was accelerated by a speech by Turkish President Erdogan and a Tweet from US President Donald Trump…

“There are various campaigns being carried out. Don’t heed them,” Erdogan said Thursday “Don’t forget, if they have their dollars, we have our people, our God. We are working hard. Look at what we were 16 years ago and look at us now,” Erdogan told supporters.

A few moment later, Donald Trump tweeted.

I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar! Aluminum will now be 20% and Steel 50%. Our relations with Turkey are not good at this time!