TRY soars as Trump lifts...........>

EMERGING MARKETS: TRY soars as Trump lifts sanctions pressure

-The Turkish currency was comfortably the best performer in EMFX Wednesday,

helping pressure USD/TRY back below the 5.7520 50-dma as the US President

approved the removal of sanctions on the country. Trump deemed that the

Syria-Turkey ceasefire has held "very well", with Turkey reportedly telling

Trump that they would make the ceasefire itself permanent. In return, the US

have formally lifted sanctions. Next support in USD/TRY kicks in at the 100-dma

at 5.7214, just ahead of the early October lows at 5.6844.

-BRL remains the best performer in Latin American FX, with Wednesday's gains

helping the pair pull near 3% off the cycle highs printed just last week. The

moves come despite a slowing in the progress of the pension bill in the Senate,

with next support in USD/BRL at October's low at 4.0505. This contrasts with the

ARS, which hit fresh lows.

-South Korean GDP, Hong Kong trade balance and Mexican economic activity numbers

are the data highlights Thursday. The Ukraine and Turkey rate decisions are also

due, with both banks seen cutting interest rates.