Free Trial

USD/TRY Approaches Support at 50-DMA Amid Hawkish Inflation Presentation

TRY
  • The hawkish tone of Karahan’s inflation report presentation, and upward revisions to the central bank’s year-end inflation forecasts, has resulted in lira erasing its earlier losses against the dollar.
  • Today’s moves are reflecting greater pricing and likelihood of tighter policy for longer, as the governor has reiterated that the central bank stands ready to trigger additional tightening if necessary.
  • USDTRY sits marginally in the red at typing, just above the 50-DMA at 32.2181. We have not broken below this average since August 2023.

To read the full story

Close

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.