FxWirePro: USD/TRY hovers towards record peaks, likely to break above 7.4000
The Turkish Lira plunged, crawling towards all-time low recorded last week despite upbeat economic data. Turkey's manufacturing confidence index increased to a 6-month high of 106.2 in August, while capacity utilization …
The Turkish Lira plunged, crawling towards all-time low recorded last week despite upbeat economic data.
Turkey's manufacturing confidence index increased to a 6-month high of 106.2 in August, while capacity utilization increased to 73.30 percent in August from 70.70 percent in July.
USD/TRY is trading 0.2 percent higher at 7.3870, having hit an record high of 7.3980 last week.
Immediate resistance is located at 7.4070, any close above could take it above 7.4204.
On the downside, support is seen at 7.3388 and break below could take it near 7.3050.
