USD/TRY: Any let up in FX interventions by CBT and banks could be followed by explosive moves – Commerzbank USDTRY Banks
Perhaps the FX market is getting ready for the first rate hike by CBT as a result of the new economic team taking over – Hafize Gaye Erkan as CBT governor – but can’t decide whether this will be delivered at the scheduled 22 June rate meeting, or even sooner via emergency meeting.
The FX market mostly sees through this problem – hence, any let up in FX interventions by CBT and banks could be followed by explosive USD/TRY moves.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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