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TRY leads EMFX weakness

TURKISH LIRA

TRY comes under renewed pressure during our early European session.

  • TRY is down 0.85% against the USD and 0.71% versus the EUR.
  • This is providing some reversal in the Rand, as the latter gives back some of its early bid, despite the better Risk on tone.
  • Estoxx and S&P are testing high of the day.
  • USDTRY is eyeing a test back above 7.30, now at 7.28, ahead of yesterday high at 7.3485
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