USD/TRY: Risks remain heavily tilted to the downside for the Turkish lira – MUFG – by MSalordFX USDTRY Banks Currencies
Key Quotes:
“The underlying bearish trend for the lira has quickly resumed reflecting the lack of foreign investor confidence in domestic policy settings. The CBRT remains reluctant to tighten policy in response to elevated inflation that hit a fresh high of 78.6% in June. It leaves the real policy rate adjusted for inflation in deeply negative territory.”
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