According to Analysts at Danske Bank, the Turkish Lira faces prospects of further depreciation in the longer run, taking the pair beyond the psychological 5.00 handle in a 12-month view. Key Quotes “The Turkish lira has entered another perfect storm, as shaky macro fundamentals are eroded by the high oil price, weak emerging market sentiment and the returning personal grip of President Recep ErdoÄŸan on the economic processes, TRY and monetary policy”. “The markets continue to dislike this kind of interference, now pricing extremely high TRY hedging. We expect the TRY sell-off to calm down, if the President announces a fiscal austerity programme and signals more central bank independency”. “We expect the USD/TRY to slide down slightly from the current levels in the near term, updating the forecast as following: 4.70 in 1M (previously 4.40), 4.80 in 3M (previously 4.45), 4.90 in 6M (previously 4.35) and 5.10 in 12M (previously 4.50)”. 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 EIA: Commercial crude oil inventories increased by 5.8 million barrels from previous week FX Street 5 years According to Analysts at Danske Bank, the Turkish Lira faces prospects of further depreciation in the longer run, taking the pair beyond the psychological 5.00 handle in a 12-month view. Key Quotes "The Turkish lira has entered another perfect storm, as shaky macro fundamentals are eroded by the high oil price, weak emerging market sentiment and the returning personal grip of President Recep ErdoÄŸan on the economic processes, TRY and monetary policy". "The markets continue to dislike this kind of interference, now pricing extremely high TRY hedging. We expect the TRY sell-off to calm down, if the President announces a… Regulated 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.
