USD/TRY Gains Modestly As CBRT Keeps 1-Week Repo Rate Steady

[adrotate group=”3″] The Central Bank of the Republic of Turkey (CBRT) held interest rates at 19.00%, in the first meeting presided over by the new Governor Sahap Kavcioglu.  In the first policy statement by the bank after the firing of the hawkish Naci Agbal on March 20, the CBRT noted […]

USDTRY Turkish lira

USDTRY: Lira Gains for 6th Straight Day Ahead of CBRT Decision

[adrotate group=”3″] The Lira continues to extend its gains against the US Dollar, as cheap investment dollars now seeks emerging market currencies that have a higher interest rate and therefore are capable of producing a higher yield.  This carry trade scenario appears to favour the Lira in its pairing with […]

USDTRY Turkish lira

USDTRY: 7.26 Beckons As Pair Sells Off Following CBRT Decision

[adrotate group=”3″] The Turkish Lira gained strength for the 3rd straight session after the Central Bank of the Republic of Turkey (CBRT) left the interest rates unchanged at 17.00%. Further adding to the weakness of the USDTRY was the prevailing bearish sentiment on the greenback, as inflows pour into emerging […]