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USDTRY Reverses Post CBRT Gains, Makes Fresh Daily Lows

TURKEY

USDTRY has given up all of the post CBRT rate decision gains. Highs made of 8.1568 following the hold at 19% and the removal of the phrase 'additional monetary tightening will be delivered if needed', have been entirely reversed.

  • Lows of the day are being tested at 8.0210.
  • Broader EMFX optimism contributing to the turnaround. - JPMorgan EM Ccy Index +0.55% at 56.906.
  • 7.9886 April lows closest level of note. Key support remains unchanged at 7.6958, Mar 22 low.

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