USD/TRY climbs to multi-session highs past 17.00 – by pabspiovano USDTRY Turkey Currencies Crosses
The upside bias in the greenbacks weighs on the lira.Further depreciation of the Turkish currency lends extra wings toUSD/TRY now targets the 2022 highs near 17.40
So far, the lira’s price action is expected to keep gyrating around the performance of energy prices, the broad risk appetite trends, the Fed’s rate path and the developments from the war in Ukraine. Extra risks facing the Turkish currency also come from the domestic backyard, as inflation gives no signs of abating, real interest rates remain entrenched in negative figures and the political pressure to keep the CBRT biased towards low interest rates remain omnipresent.Eminent issues on the back boiler
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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