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USD/TRY Edges Higher as Key Data Looms Later in the Week

TURKEY
  • USD/TRY trades -0.03% lower this morning, tracking early price action in the BBDXY.
  • The cross drifted higher in yesterday’s session to push through Friday’s highs towards 13.60 this morning.
  • A quiet local agenda should see the cross focus on international developments for directionality with US trade balance data the main event for today.
  • Markets will look to current account and industrial production data at the back end of the week for the next local drivers for TRY price action.
  • Attention remains on 13.682 resistance for the next leg higher towards the prior highs just shy of 14.00.
  • Intraday Sup1: 13.5489, Sup2: 13.5087, Res1: 13.6344, Res2: 13.6614
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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