Economists at Credit Suisse believes a rate hike from the CBRT is set to provide some support to the USD/TRY pair after Turkey’s lira dropped more than 10% in the third quarter. Key quotes “We maintain our short-term USD/TRY target at 7.65-7.75 (i.e. slightly lower than current spot level). We believe that the lira is going to be supported for now by further increases in the central bank’s effective policy rate.” “We think that potential pullbacks in USD/TRY are limited to 7.50 as real rates are not high enough to create sizable selling of dollars by locals and the central bank and state-banks will likely buy USD on lira-rallies in order to rebuild their FX reserves.” 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 EUR/USD eases from daily highs near 1.1760 FX Street 2 years Economists at Credit Suisse believes a rate hike from the CBRT is set to provide some support to the USD/TRY pair after Turkey's lira dropped more than 10% in the third quarter. Key quotes “We maintain our short-term USD/TRY target at 7.65-7.75 (i.e. slightly lower than current spot level). We believe that the lira is going to be supported for now by further increases in the central bank’s effective policy rate.” “We think that potential pullbacks in USD/TRY are limited to 7.50 as real rates are not high enough to create sizable selling of dollars by locals and the central… 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.
