Analysts at Danske Bank remains bearish on the Turkish lira but they raise the medium- and long-term outlook slightly due to the currency stabilisation and a more flexible Federal Reserve. Key Quotes: “Recent net flows into Turkish bonds and stocks have been positive as a softening US Fed has improved sentiment. According to technical analysis (Relative Strength Index), the USD/TRY continues near ‘the fair value’ where it returned after the significant hike in September 2018.” “Major downside risks to our TRY forecasts include a surprise monetary easing ahead of local elections held in March 2019, the Fed becoming more hawkish and a geopolitical confrontation in Syria.” “We raise our TRY medium- and long-term outlook slightly due to the currency stabilisation and more flexible Fed. However, large FX debt redemptions by Turkish private sector and rate cuts will weigh on the TRY in 2019. Thus, we continue to remain bearish on the currency in the long term and forecast USD/TRY at the following levels: 5.40 in 1M, 5.55 in 3M, 5.70 in 6M (previously 6.00) and 6.00 in 12M (previously 6.25).” 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 USD/JPY: Market bullish on trade and Central Bank divergence, eyes on 200-DMA FX Street 4 years Analysts at Danske Bank remains bearish on the Turkish lira but they raise the medium- and long-term outlook slightly due to the currency stabilisation and a more flexible Federal Reserve. Key Quotes: "Recent net flows into Turkish bonds and stocks have been positive as a softening US Fed has improved sentiment. According to technical analysis (Relative Strength Index), the USD/TRY continues near 'the fair value' where it returned after the significant hike in September 2018." "Major downside risks to our TRY forecasts include a surprise monetary easing ahead of local elections held in March 2019, the Fed becoming… 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.