17 Mar 2015
USD/TRY in lows on CBRT decision
FXStreet (Edinburgh) - The Turkish lira is gathering pace now following the decision by the CBRT, sending USD/TRY to challenge lows around 2.6060.
USD/TRY weaker post-data
The pair is accelerating the downside after the Turkish central bank (CBRT) left unchanged its benchmark rates in today’s meeting, with the One-Week Repo Rate at 7.5% and the Overnight Lending Rate at 10.75%.
The pair reacted accordingly, falling to daily lows in sub-2.61 levels in the wake of the decision.
USD/TRY relevant levels
The pair is now falling 0.55% at 2.6115 with the immediate support at 2.6069 (low Mar.17) ahead of 2.5980 (low Mar.16) and then 2.5810 (low Mar.13). On the upside, a breakout of 2.6315 (high Mar.17) would aim for 2.6433 (high Mar.16) and finally 2.6496 (high Mar.13).
USD/TRY weaker post-data
The pair is accelerating the downside after the Turkish central bank (CBRT) left unchanged its benchmark rates in today’s meeting, with the One-Week Repo Rate at 7.5% and the Overnight Lending Rate at 10.75%.
The pair reacted accordingly, falling to daily lows in sub-2.61 levels in the wake of the decision.
USD/TRY relevant levels
The pair is now falling 0.55% at 2.6115 with the immediate support at 2.6069 (low Mar.17) ahead of 2.5980 (low Mar.16) and then 2.5810 (low Mar.13). On the upside, a breakout of 2.6315 (high Mar.17) would aim for 2.6433 (high Mar.16) and finally 2.6496 (high Mar.13).