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USDTRY largely consolidated in a narrow......>

TURKEY
TURKEY: USDTRY largely consolidated in a narrow Try4.8377-4.8748 range
overnight, despite Fitch's rating downgrade late Friday from BB+ to BB; outlook
negative which saw the pair touch Try4.8808. Expect near-term support at
Try4.8188 (Jul13 low), opening Try4.7435 which represents the 50% retracement of
Try4.5126-4.9743. Last Try4.8437.  

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