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Turkey Faces Inflation Risks if Ukraine Crisis Triggers Supply Disruptions in Wheat/Energy

TURKEY
  • As a major importer of Wheat from Russia, Turkey is vulnerable to inflation repercussions from any disruptions to the supply chain
  • Moreover, upside in oil and gas prices alongside supply interruptions would also be detrimental fro Turkey, given its net importer status
  • USD/TRY stands close the the topside of its lateral channel pattern with a consolidated break through 13.60 opening up the prior highs at 13.9542, where analysts believe the CBRT may look to defend the currency
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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