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TRY Weathers the SLR Storm, RUB & ZAR Feeling The Headwinds

EMERGING MARKETS
  • TRY remaining the most resilient among the CEEMEA high-yielders as UST yields lift in response to the Fed allowing the SLR to lapse
  • USD/ZAR pulling back towards the prior consolidation range around the 15.00 handle
    • dynamic resistance above from the 100 & 50dmas
  • USD/RUB also drifting higher, bringing 74.5050 Resistance into view.
    • Spot has now pulled back above the 200dma on the daily chart.
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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