The Federal Reserve's announcement following its most recent monetary policy meeting hinted at an end to the Fed's ultra-loose monetary policy. Markets have been rattled in recent weeks by anticipation of the move, with Wall Street's benchmark S&P 500 index falling nearly 10% this month.
Earlier this month, JPMorgan CEO Jamie Dimon stated that there was a "fairly good chance" of more than four rate hikes this year, which have been priced into futures markets, with the possibility of six or seven.
Following the Federal Reserve's announcement that it will maintain its policy interest rate constant (for now), the Turkish Lira has appreciated slightly against the Euro and the US Dollar.
