The Turkish currency collapses nearly 4% vs. the greenback. The pair tested the boundaries of 4.94, fresh 2-week highs. The CBRT left the policy rate unchanged at today’s meeting. The Turkish Lira is sharply lower vs. its American peer on Tuesday, lifting USD/TRY to fresh multi-day tops in the vicinity of 4.94. USD/TRY higher on steady CBRT TRY quickly depreciated after the Turkish central bank (CBRT), left unchanged the one week repo rate at 17.75% at today’s meeting. The CBRT noted that domestic demand continued to decelerate, while it still sees inflation at high levels as well as inflation expectations. That said, the central bank deemed appropriate to leave rates at 17.75% and continue with the tightening cycle for a longer period. In addition, the CBRT said it will continue its data-dependent stance in order to maintain the price stability. USD/TRY key levels At the moment the pair is gaining 3.37% at 4.8981 facing the next hurdle at 4.9390 (high Jul.24) seconded by 4.9721 (2018 high Jul.12) and then 5.0000 (psychological level). On the downside, a breach of 4.7257 (21-day sma) would open the door to 4.6283 (55-day sma) and finally 4.5060 (low Jul.9). 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 Bitcoin Technical Analysis: big bull run continues, as price charges ahead, with buying returning to the market, jumping 6% FX Street 5 years The Turkish currency collapses nearly 4% vs. the greenback. The pair tested the boundaries of 4.94, fresh 2-week highs. The CBRT left the policy rate unchanged at today's meeting. The Turkish Lira is sharply lower vs. its American peer on Tuesday, lifting USD/TRY to fresh multi-day tops in the vicinity of 4.94. USD/TRY higher on steady CBRT TRY quickly depreciated after the Turkish central bank (CBRT), left unchanged the one week repo rate at 17.75% at today's meeting. The CBRT noted that domestic demand continued to decelerate, while it still sees inflation at high levels as well as inflation expectations.… 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.
