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USD/TRY Breaches 8.00

TURKEY
  • Despite broad positivity surrounding the decision to curb the local credit boom through the abandonment on the Asset Ratio rule, USD/TRY continues to push higher.
  • This latest move higher pares gains made this morning to move through the 7.95-7.97 October resistance cluster.
  • Similar, but less pronounced, moves higher in risk-proxy peers ZAR & RUB indicate signs of broad risk-off as the most likely cause for the move
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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