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TRY Firmer Following Erdogan Announcements

TURKEY
  • USD/TRY looks to have completed that leg lower post-Erdogan speech, with the pair back below 17.50. Erdogan's announcements looked focused on reversing the tide of dollarisation - creating instruments that reduce the incentive to buy FX, while boosting local returns by contributing a greater sum to private pensions.
  • Erdogan also looking to ensure near-term political stability, committing to no early election (next is due by June 2023).
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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