FxWirePro: Turkish Lira rallies to 1-month peak on funding hopes
The Turkish Lira rallied to a 1-month peak, supported by hopes the government will be able to secure foreign funding amid the coronavirus pandemic. The bid tone around the Turkish currency improved on a report that the g…
The Turkish Lira rallied to a 1-month peak, supported by hopes the government will be able to secure foreign funding amid the coronavirus pandemic.
The bid tone around the Turkish currency improved on a report that the government held talks with counterparts in Tokyo, London and elsewhere over new possible foreign funding.
Istanbul’s main share index was up 1.5 percent after prices were confirmed for expected capital injections at state banks, whose shares surged.
USD/TRY is trading 0.5 percent down at 6.8626, having hit a low of 6.8295 earlier, its lowest since April 17.
Immediate resistance is located at 6.9112, any close above could take it above 6.9285.
On the downside, support is seen at 6.8208 and break below could take it near 6.7960.
