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Add as a preferred source on Google FxWirePro: USD/TRY consolidates within narrow ranges amid resurging coronavirus cases The Turkish Lira eased, drifting closer a 1-month low hit last week amid surging coronavirus infections. On Thursday, the Turkish currency attempted a minor recovery following Turkey central bank's interest rate decision…
By FxWirePro Team Jun 26, 2020, 10:58 AM UTC
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The Turkish Lira eased, drifting closer a 1-month low hit last week amid surging coronavirus infections.
On Thursday, the Turkish currency attempted a minor recovery following Turkey central bank's interest rate decision.
The Central Bank of Turkey held its benchmark one-week repo at 8.25 percent, surprising markets that had forecast a 25 bps rate cut.
USD/TRY is trading 0.05 percent higher at 6.8543, having hit a high of 6.8608 last week, its highest since May 19.
Immediate resistance is located at 6.8668, any close above could take it above 6.8750.
On the downside, support is seen at 6.8400 (10-DMA) and break below could take it near 6.8356.
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