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USDTRY is once again testing low of....>

TURKISH LIRA
TURKISH LIRA: USDTRY is once again testing low of the day, also helping USDZAR
lower.
Still somewhat puzzling to see the Turkish Lira strengthening today. There's
still plenty of Risk and concerns for Turkey going forward and it looks like
investors are taking a shorter term view with the 100 bps CUT in Rates this
coming Thursday.
*Risks: Although, Syrian war risks is looking to lead Central Europe and
Emerging Currencies, today the clock runs down on Turkey's 120-hour cease-fire
for Kurdish fighters to leave a strip of territory in north eastern Syria. 
Putin holds talks with Erdogan in Russia's Sochi on Tuesday and this will be
closely watched, because any restart in the conflict could trigger the "Wrath"
of Donald Trump and more painful sanctions heading Turkey's way.

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