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The Turkish Lira extended its..........>

TURKISH LIRA
TURKISH LIRA: The Turkish Lira extended its recovery at the European crossover
with gains of over 3% against the USD. A near 40 big fig daily range has seen
USDTRY touch pullback lows of Try6.3926, with very little news behind the move.
Turkey announced earlier that it would hike taxes on up to 6-month FX deposit
accounts to 20% from 18% and raise tax on FX accounts with maturities of up to 1
year to 16% from 15%. Headlines again expected to drive with near-term support
seen at Try6.2698 which represents the 50% retracement of Try5.6968-6.8427. Last
Try6.5130. 

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