Breaking News: USD/TRY breaks below 6 after Qatar pledges to invest $15 billion in Turkey

Turkish President Erdogan's office recently announced that Qatar has pledged to invest $15 billion in Turkey. The initial market reaction forced the USD/TRY pair to lose more than 700 pips in a matter of minutes. At the moment, the pair is trading near  5.9700, down 6% on the day.