Free Trial

TRY improved 2.25% against the USD.....>

TURKISH LIRA
TURKISH LIRA: TRY improved 2.25% against the USD to Try5.3293 yesterday,
following the CBT's more hawkish tone than expected after it noted additional
tightening is possible if needed. TRY has since given back modest gains through
Europe to briefly trade above the Try5.38 level. Near-term resistance is seen at
Try5.4109 from the 38.2% retracement of Try5.5430-5.3293. Bears downside focus
remains on a break of the 200-dma at Try5.2445, before challenging the
year-to-date low at Try5.2056. Last Try5.3779. 

To read the full story

Close

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.