The lira is surging after Turkey's referendum

The Turkish lira surged after a slim majority voted in favor of amendments to the constitution, which grant President Recep Tayyip Erdogan "sweeping powers in the biggest overhaul of modern Turkish politics."
The currency is up by 2.2% at 3.6669 per dollar as of 11:54 a.m. ET on Monday. 
The lira's appreciation may seem unexpected to some onlookers, given that investors usually have concerns over what consolidation of political power and disintegration of checks and bala