USD/TRY looks consolidative below 14.00 By pabspiovano USDTRY Turkey Currencies Crosses
Turkey’s Current Account recorded a $2.68B deficit.back to the proximity of 13.90 on Tuesday.Trading range in USD/TRY has diminished considerably in the last sessions, while occasional bullish attempts in the spot remain well limited around the 14.00 neighbourhood for the time being.
: Progress of the government’s new scheme oriented to support the lira. Constant government pressure on the CBRT vs. bank’s credibility/independence. Bouts of geopolitical concerns. Much-needed structural reforms. Growth outlook vs. progress of the coronavirus pandemic. Potential assistance from the IMF in case another currency crisis re-emerges. Earlier Presidential/Parliamentary elections?So far, the pair is gaining 0.49% at 13.8429 and a drop below 12.7523 would pave the way for a test of 12.
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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