Free Trial

USD/TRY Remains Rangebound Ahead of Ukr-Rus Ceasefire Talks in Istanbul

TURKEY
  • USD/TRY trades +0.06% higher this morning, treading water above 14.80 within its narrow lateral range.
  • Today’s focus will be on ceasefire talks in Istanbul, with Erdogan placing Turkey as the key mediator in the crisis – putting Turkey in a potentially advantageous position to boost its international presence all around if it plays its cards right, or difficult one if it is forced to break its neutral stance.
  • S-400s remain a sticky issue with the US, but EU relations have been improving since the onset of the crisis with a number of countries pulling closer to Turkey as a key NATO ally.
  • USD/TRY should remain vulnerable to Ukraine developments and energy sector risks in the near-term. Intraday Sup1: 14.8138, Sup2: 14.8014, Res1: 14.8531, Res2: 14.8689
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.