The changes in the central bank’s management over the weekend abruptly put an end to the shift-to-orthodoxy narrative which has been in place since early November. In the very short run, economists at Credit Suisse see scope for USD/TRY to trade within the 7.70-8.30 range, but a break above all-time highs of 8.58 in Q2 2021 looks likely. Key quotes “In the very short run, we see scope for USD/TRY to trade within the 7.70-8.30 range as front-end FX rates remain abnormally elevated and as authorities deploy FX sales to smooth the pressure on the lira from cross-border outflows. “While a range-trading in USD/TRY in the very short run is possible, the developments over the weekend create asymmetrical upside risk to USD/TRY. A break above all-time highs of 8.58 in 2Q 2021 is on the cards.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD to target the 200-DMA at 0.7363 – Commerzbank FX Street 8 months The changes in the central bank's management over the weekend abruptly put an end to the shift-to-orthodoxy narrative which has been in place since early November. In the very short run, economists at Credit Suisse see scope for USD/TRY to trade within the 7.70-8.30 range, but a break above all-time highs of 8.58 in Q2 2021 looks likely. Key quotes "In the very short run, we see scope for USD/TRY to trade within the 7.70-8.30 range as front-end FX rates remain abnormally elevated and as authorities deploy FX sales to smooth the pressure on the lira from cross-border outflows. … Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
