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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.
TURKEY
- USD/TRY trades +0.05% higher this morning, treading water below 14.75.
- W/w the cross has risen +0.55% set against a backdrop of a more hawkish Fed and sustained inflationary pressures coming from the ongoing crisis in Ukraine.
- Yesterday’s announcement of a meeting with Blinken (18 May) is a positive development in Turkey-US relations as both sides pursue dialogue over F-16 jets.
- Turkey’s refusal to give up its S-400 systems, however, remains the key sticking point and hurdle to seeing CAATSA sanctions removed.
- USD strength remains the dominant theme going into the weekend and should be the main driver in the cross today.
- Intraday Sup1: 14.7144, Sup2: 14.6865, Res1: 14.7634, Res2: 14.7811
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
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.
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