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Turkish Lira is once again leading EMFX weakness in early trading.
The currency is down 0.63% against the Greenback,despite some state bank involvement last week.
- USDTRY is just off the high at 7.31, ahead of yesterday's high, and seen as a key level by some market participants at 7.40.
- USDZAR is down 0.2%, despite the better risk on overnight and in early European trading. -Local desk only note thin turnovers, with rates slightly steeper, after the long weekend.
- Resistance is eyed at yesterday's high 17.7865, ahead of the 22/05 high at 17.8793.