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Why MNI
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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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TURKEY: USD/TRY Trades at Fresh Record High
- USD/TRY trades moderately higher today (+0.10%) and at a fresh record high after the pair’s sharp rally yesterday. Higher US yields and the associated recovery in the greenback from this week’s lows aided the move higher yesterday, with those factors also hampering most other major emerging market currencies.
- Although FX loan growth has started to slow down amid central bank limits, the monthly growth rate in the first 12 days of June was still at 3.6%, according to Ekonomi. The FX loan balance, which exceeded $151bn as of June 12, continues to be at its highest level in 2 years.
- There are no major data releases scheduled for today, with domestic focus shifting to the CBRT rate decision next week.
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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.