USD/TRY carries bounce off three-week low around $13.50 amid quiet markets By anilpanchal7 USDTRY RiskAppetite CentralBanks Macroeconomics Currencies
CBRT to ensure maximum interest rate on converted lira deposits, Turkish Manufacturing PMI eased in January.US ADP Employment Change, risk catalysts will be the key for near-term directions.In doing so, the Turkish lira pair holds onto the previous day’s bounce off the lower point in three weeks.Manufacturing PMI
It’s worth noting that the USD/TRY bulls were previously challenged by the nation’s Official Gazette highlighting the Central Bank of Turkey’s readiness to offer maximum benefits to lira deposits. “Turkish central bank will determine the maximum interest rate on foreign currency and gold deposit accounts converted to lira in a scheme that protects local currency savings against exchange rateOn the other hand, The US ISM Services PMI for January rose to 57.6 versus 57.
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