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23 Jun 2015
USD/TRY muted on CBRT decision
FXStreet (Edinburgh) - The Turkish lira remained unchanged following the CBRT monetary policy meeting, with USD/TRY trading above 2.6700.
USD/TRY indifferent on CBRT
The pair kept the composure after the Turkish central bank (CBRT) left its monetary stance unchanged at today’s meeting, with the Overnight Lending Rate at 10.75%, the Overnight Borrowing Rate at 7.25% and the One-Week Repo Rate at 7.50%. The CBRT’s decision was broadly in line with market expectations.
The recent appreciation of the lira seems to have found a barrier around the 2.6600 level vs. the greenback, correcting from historical lows beyond 2.80 in mid-June.
USD/TRY key levels
At the moment the pair is advancing 0.39% at 2.6760 with the next resistance at 2.6975 (high Jun.22) followed by 2.7253 (high Jun.19) and then 2.7451 (high Jun.17). On the other hand, a breach of 2.6579 (low Jun.22) would open the door to 2.6519 (low Jun.5) and finally 2.6440 (low May 29).
USD/TRY indifferent on CBRT
The pair kept the composure after the Turkish central bank (CBRT) left its monetary stance unchanged at today’s meeting, with the Overnight Lending Rate at 10.75%, the Overnight Borrowing Rate at 7.25% and the One-Week Repo Rate at 7.50%. The CBRT’s decision was broadly in line with market expectations.
The recent appreciation of the lira seems to have found a barrier around the 2.6600 level vs. the greenback, correcting from historical lows beyond 2.80 in mid-June.
USD/TRY key levels
At the moment the pair is advancing 0.39% at 2.6760 with the next resistance at 2.6975 (high Jun.22) followed by 2.7253 (high Jun.19) and then 2.7451 (high Jun.17). On the other hand, a breach of 2.6579 (low Jun.22) would open the door to 2.6519 (low Jun.5) and finally 2.6440 (low May 29).