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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.
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Free AccessUSD/TRY Respects its Tight Lateral Range Just Shy of 15.00
- USD/TRY trades +0.03% higher this morning, with the cross still pegged in its lateral range just shy of the 15.00 level.
- Price action made a fourth attempt to push past 14.86 yesterday and failed – seeing another mostly flat close for the cross.
- Erdogan pressed Western nations to drop sanctions against Turkey’s defence industry owing to its role in the Ukraine crisis, and placed EU accession as its next key strategic goal.
- Inflation risks from a more protracted conflict in Ukraine remain prevalent for Turkey with ceasefire talks showing no concrete signs of progress this week.
- Oil and Natgas prices have softened slightly this morning, however, easing depreciation pressure on TRY on the margins.
- Intraday Sup1: 14.8014, Sup2: 14.7634, Res1: 14.8531, Res2: 14.9791
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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.