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TRY Tentatively Outperforming EM Peers As CBRT Comes Into View

  • TRY outperforming against the USD today vs peers RUB & ZAR. USD selling pushing the BBDXY lower towards Friday's lows around 1140.40
  • USD/TRY -0.68%, trading around 8.1135 support. Local & USD rates mostly subdued, providing little support to TRY.
  • Limited local catalysts in today's newsflow, so perhaps early expectations of relatively hawkish guidance and hold on rates from new Gov Kavcioglu in line with his recent comments assuring the CBRT will not launch a premature easing cycle on Thursday
  • Next Support seen at 8.0236
MNI London Bureau | +44 020-3983-7894 |
MNI London Bureau | +44 020-3983-7894 |

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