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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessTRY Volatility Persists Ahead of EU Summit
- Local rates open firmer this morning after sustaining losses since the start of the week.
- 5, 7 & 10Y tenors outperforming in line with marginally more positive risk sentiment.
- USD/TRY continues to open higher at the fix, but has been met with selling pressure on moves towards 7.85 and above.
- Choppy trading is likely to persist ahead of the EU summit with moderate sanctions expected to be imposed on Turkey.
- Political risk premium should largely be baked into USD/TRY.
- However, signs of harsher sanctions may add upside pressure on spot.
- For now the 7.75-7.92 range is holding with most of the sell-side still favouring shorts.
To read the full story
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Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.