• The Turkish Lira slumped, hovering towards all-time low recorded in the prior session despite the central bank signaling higher borrowing costs.
   
• On Tuesday, Turkey’s central bank halved banks’ borrowing limits for overnight transactions in the interbank money market, signaling that borrowing costs will move to a higher rate of 11.25 percent.
   
• The Central Bank of the Republic of Turkey is scheduled to meet on Thursday, where it is expected to keep its benchmark interest rate unchanged at 8.25 percent
   
• USD/TRY is trading 0.1 percent up at 7.3770, having hit an record high of 7.3980 on Tuesday.
   
• Immediate resistance is located at 7.4020, any close above could take it above 7.4136.
   
• On the downside, support is seen at 7.3249 and break below could take it near 7.3078 (7-EMA).