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Further weakness goes through in.......>

TURKISH LIRA
TURKISH LIRA: Further weakness goes through in TRY, which continues to print
record lows against the USD and EUR (the latter just broke above the Try 6.00
mark for the first time). USD/TRY hedging trades remain highly popular, with
over $2bln in options trades so far today (surpassing GBP/USD today). Implied
volatility of calls continues to rise, with USD/TRY 1m risk reversals today
touching their highest since 2011 at 4.8825 vol points.

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