USD/TRY challenges daily lows near 13.30 post-CBRT By pabspiovano USDTRY Turkey Currencies Crosses CBRT
The CBRT left the One-Week Repo Rate unchanged at 14.00%.The Turkish lira is gathering further traction and now dragging USD/TRY to weekly lows in the 13.2500/2000 band on Thursday. is now seen dropping for the second session in a row as the lira remains bid vs. the greenback following the decision by the Turkish central bank to leave the One-Week Repo Rate unchanged at 14.00% at its meeting on Thursday. It was the first time the central bank kept the policy rate on hold since August.
In addition, the CBRT said that it will prioritize the lira when it comes to the policy framework and reiterated the willingness to achieve the medium-term inflation target of 5% YoY.So far, the pair is retreating 0.01% at 13.3730 and a drop below 12.7523 would pave the way for a test of 12.6123 and finally 10.2027 . On the other hand, the next up barrier lines up at 13.9319 followed by 18.2582 and then 19.0000 .
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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