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USD/TRY has experienced a limited......>

TURKISH LIRA
TURKISH LIRA: USD/TRY has experienced a limited restart, despite the one notch
rating downgrade at Fitch to BB-; outlook negative and a BBG source report
suggesting that U.S. President Trump's aides have outlined and selected the
sanctions to impose on Turkey re: the purchase and delivery of the Russian S-400
missile system. BBG have suggested that the Trump administration will announce
the sanctions "in the coming days."
- Turkish President Erdogan spoke on Sunday, noting that the Trump could cancel
or suspend the sanctions noted that the CBRT will reduce interest rates
significantly, in order to bring inflation to single-digit levels.
- Rate last deals around 1 figure higher at TRY5.7300. Volatility may be crimped
by the fact that it is a Turkish holiday on Monday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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