fxstreet.com 18 Feb, 2021 08:15 am

USD/TRY to end the year at 6.25 – CE

USD/TRY to end the year at 6.25 – CE
The shift in policy making at Turkey’s central bank (CBRT) has supported a rally in local financial markets over the past few months and we think this

FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.It also does not guarantee that this information is of a timely nature.The shift in policy making at Turkey’s central bank (CBRT) has supported a rally in local financial markets over the past few months and we think this has further to run.Key quotes “Moves by the government to ease geopolitical tensions are encouraging and may continue to reduce Turkey’s risk premium and we expect the central bank to keep monetary conditions tighter than most currently anticipate: our forecast is for the one-week repo rate to be left on hold throughout this year, whereas the consensus is for 375bp of rate cuts.

Economists at Capital Economics now expect the USD/TRY pair to end this year at 6.” “We think that the lira’s rally has further to run and we now expect it to end this year at 6.

Read full story at fxstreet.com