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TRY Outperforms Ahead of CBRT Meeting (24 Dec)

TURKEY
  • USD/TRY approaching support band at 7.6275-7.6153 (Nov 16 low)
  • Move below opens up 7.5343-7.50 with markets broadly expecting a 150-200bp CBRT hike on Thursday
  • Should reinforce wider real yields/carry and support greater de-dollarisation
  • Which would be supportive to TRY assets
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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