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USD/TRY Remains Heavy As DXY Takes Out 90.00

TURKEY
  • USD/TRY opens lower after a brief late-session pullback to 7.40 in line with a firmer USD.
  • TRY sentiment still remains positive and spot may continue to drift towards 200dma (7.3059).
  • CBRT will be pleased with TRY strength, accelerating de-dollarisation and reducing FX passthrough to inflation.
  • Limited local events for today leaves the cross vulnerable to global sentiment
  • USD trading below the 90 handle keeping USD/TRY heavy.
  • SUP1: 7.3483, SUP 2: 7.3059, RES1: 7.4117, RES2: 7.4682.
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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