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Barclays recommend being short.........>

TURKISH LIRA
TURKISH LIRA: Barclays recommend being short USDTRY with tight targets/stops
over the coming week, at the time of the call spot was trading at 4.045 (last
4.0810), with a target of 3.9410 & a stop at 4.1100. They believe that the "CBT
is likely to tighten monetary policy on Wednesday in order to stabilise the
exchange rate ahead of the recently announced 24 June election. Our baseline
expectation of a 100bp hike to the late liquidity window (LLW) rate is more
aggressive than what is being priced (c.40bp) and should provide near-term
support to the lira."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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