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20 May 2015
USD/TRY deflates further post-CBRT
FXStreet (Edinburgh) - The Turkish lira is posting meagre gains vs. the greenback on Wednesday, with USD/TRY now easing to the 2.5940 area.
USD/TRY weaker on CBRT decision
The pair has retraced further from the area of daily tops beyond 2.61 after the central bank of Turkey (CBRT) left intact its monetary stance in today’s meeting. In fact, the CBRT left unchanged the One-week repo rate at 7.5%, the Marginal Funding Rate at 10.75% and the Borrowing Rate at 7.25%, all in line with the broader market expectations.
The pair is currently snapping a positive 2-session streak today, after finding decent support above the 2.57 level on Monday.
USD/TRY significant levels
At the moment the pair is down 0.02% at 2.5920 with the next support at 2.5731 (low May 19) ahead of 2.5743 (low May 18) and finally 2.5629 (low Apr.7). On the upside, a surpass of 2.6335 (high May 14) would aim for 2.6730 (high May 13) and then 2.7049 (high May 12).
USD/TRY weaker on CBRT decision
The pair has retraced further from the area of daily tops beyond 2.61 after the central bank of Turkey (CBRT) left intact its monetary stance in today’s meeting. In fact, the CBRT left unchanged the One-week repo rate at 7.5%, the Marginal Funding Rate at 10.75% and the Borrowing Rate at 7.25%, all in line with the broader market expectations.
The pair is currently snapping a positive 2-session streak today, after finding decent support above the 2.57 level on Monday.
USD/TRY significant levels
At the moment the pair is down 0.02% at 2.5920 with the next support at 2.5731 (low May 19) ahead of 2.5743 (low May 18) and finally 2.5629 (low Apr.7). On the upside, a surpass of 2.6335 (high May 14) would aim for 2.6730 (high May 13) and then 2.7049 (high May 12).