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USD/TRY Makes Fresh All-Time Highs

FOREX

USD/TRY tags fresh all-time highs, with the cross printing as high as TRY7.8279, before pulling back to trade below TRY7.75 at typing. Little in the way of news flow apparent to drive the move, with thinner liquidity and Japanese retail investor flow exiting carry trades (Mrs Watanabe) the two usual touted protagonists for such moves during the timezone.

  • Note that the move comes as JPY moves to the top of the G10 FX leaderboard around the Tokyo fix (note that this month-end represents month-, quarter- and Japanese half FY-end).
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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