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USD/TRY continues to tumble, hitting...>

TURKISH LIRA
TURKISH LIRA: USD/TRY continues to tumble, hitting new session lows at 6.8316
after touching 2 year highs at 6.9572 yesterday. The moves come following
reports yesterday that state lenders were active in selling FX Thursday, and
that may remain the case at the halfway point of the Friday session.
- Overnight implied yield for TRY remains largely stable at 1.7% after being
slightly more volatile at the beginning of the week.
- Downside targets rest at 6.8213, the 23.6% Fib for the late March - mid April
rally and 6.7310, the 1.0% 10-dma envelope.

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