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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.
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Free AccessMorgan Stanley sold USDTRY at the NY...>
TURKISH LIRA: Morgan Stanley sold USDTRY at the NY close with a stop at 4.65 and
a target of 4.35.
- MS note that "we add risk back in TRY as we believe a combination of the
recent 300bp rate hike, simplification and the re-introduction of the
rediscounted loan should help to stabilize the lira, which has depreciated on
the back of market concerns around the independence of monetary policy and
loosening fiscal policy. We believe the CBT is likely to keep its tight monetary
policy into the election which in combination with an improving external
environment (lower UST and stable USD), should help TRY to further recover
recent losses."
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.