USD/TRY to hit 20.00 by Q1 2023 – MUFG

The Central Bank of the Republic of Turkey (CBRT) MPC delivered a surprise 100 bps rate cut taking the official policy rate to 13.00% which has led to
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USD/JPY jumps to fresh monthly peak, seems poised to prolong the appreciating move

The USD/JPY pair builds on the overnight bullish breakout momentum through the 50-day SMA resistance and gains traction for the fourth successive day
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