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TRY is off its worst levels and........>

TURKISH LIRA
TURKISH LIRA: TRY is off its worst levels and improves against the dollar to
Try5.7210/15 in early Europe. The cross touched Try5.7375 at the Asia open on
react to Friday's one notch rating downgrade at Fitch to BB-; outlook negative
and a BBG source report suggesting that U.S. President Trump's aides have
outlined and selected the sanctions to impose on Turkey re: the purchase and
delivery of the Russian S-400 missile system. BBG have suggested that the Trump
administration will announce the sanctions "in the coming days."
- USDTRY comfortably holds below the 100-dma (Try5.7477) with next support seen
at Try5.6614 from the Jul 11 low.  

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