FxWirePro: USD/TRY retreats from 3-1/2 week peak, struggles to break above 6.8500
The Turkish Lira rose, retreating from a 3-1/2 week trough recorded in the prior session as the greenback declined across the board. The dollar declined against most major currencies except the Japanese yen, weighed down…
The Turkish Lira rose, retreating from a 3-1/2 week trough recorded in the prior session as the greenback declined across the board.
The dollar declined against most major currencies except the Japanese yen, weighed down by hopes of a post-COVID global recovery, the easing of U.S.-China trade tensions and the prospect of capped long-term yields in the United States.
USD/TRY is trading 0.1 percent lower at 6.8276, having hit a high of 6.8463 on Thursday, its highest since May 19.
Immediate resistance is located at 6.8554, any close above could take it above 6.8745.
On the downside, support is seen at 6.7880 (5-DMA) and break below could take it near 6.7648.
