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TRY leads EMFX weakness

TURKISH LIRA

TRY leads EMFX weakness, with the currency coming under renewed pressure.

  • USDTRY is up another 0.75% today and testing levels last seen in mid May.
  • Inflation, reserves and FT reporting overnight that Money Market were malfunctioning, continues to weigh on the currency.
  • USDTRY is 7.0976, ahead of next resistance at 7.1320 (76.4% retracement).

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