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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessLira Depreciation Spiral Takes USD/TRY to 16.00
- USD/TRY trades +0.64% higher this morning, eying 16.00 to the topside as the greenback finds an early bid.
- The cross surged +2% higher yesterday as local risks, combined with Turkey-NATO frictions amplified lira weakness.
- The Cavusoglu-Blinken meeting today will be key for Turkey in terms of the F-16 deal and frictions with NATO over Nordic countries’ accession plans. Although a deal over F-16s would be a positive step in Turkey-US relations, it would not be enough to see CAATSA sanctions removed without Turkey giving up its Russian S-400s.
- For now, momentum in USD/TRY remains firmly higher as the cross eyes 16.00, 16.50 & 17.00 as the next stops on the runaway train. Intraday Sup1: 15.7922, Sup2: 15.715
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.