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24 Feb 2015
USD/TRY beyond 2.4850 post-CBRT
FXStreet (Edinburgh) - The Turkish lira depreciated above the 2.50 level following the decision by the CBRT, with USD/TRY now returning below 2.48.
USD/TRY firmer on data
The pair is now trading almost unchanged today after the CBRT lowered its refi rate by 25 bps to 7.50% from 7.75%, broadly in line with market expectations. The pair is advancing for the third consecutive session so far, looking to regain February peaks near the 2.52 handle.
USD/TRY key levels
The pair is now losing 0.07% at 2.4733 and a breakdown of .4523 (low Feb.23) would aim for 2.4470 (low Feb.20) and then 2.4300 (low Feb.20). On the upside, the initial hurdle lies at 2.4866 (high Feb.24) ahead of 2.5084 (high Feb.12) and finally 2.5144 (high Feb.11).
USD/TRY firmer on data
The pair is now trading almost unchanged today after the CBRT lowered its refi rate by 25 bps to 7.50% from 7.75%, broadly in line with market expectations. The pair is advancing for the third consecutive session so far, looking to regain February peaks near the 2.52 handle.
USD/TRY key levels
The pair is now losing 0.07% at 2.4733 and a breakdown of .4523 (low Feb.23) would aim for 2.4470 (low Feb.20) and then 2.4300 (low Feb.20). On the upside, the initial hurdle lies at 2.4866 (high Feb.24) ahead of 2.5084 (high Feb.12) and finally 2.5144 (high Feb.11).