TRY sits slightly weaker against.......>

TURKISH LIRA: TRY sits slightly weaker against most others Wednesday ahead of

the Turkish central bank's rate decision in just under one hour's time. The bank

are expected to keep rates unchanged at 24.0%, although a minority of analysts

are eyeing a cut of as much as 100bps, with some seeing the recent dovish turn

among global central banks as pressuring the CBRT to follow suit. Bloomberg

notes that TRY borrowing costs via 1y XCCY swaps have fallen sharply headed into

the meeting, potentially signalling some are eyeing a rate cut today.

-USD/TRY overnight implied vols have suitably shot higher Wednesday and now sit

at the highest levels since early May. First resistance for USD/TRY sits at the

50-dma at 5.9045, with support below at the June lows of 5.6621 and the 100-dma

at 5.6372.

-The decision is due at 1200BST/0700ET.