The Turkish Lira consolidated within narrow ranges as investors turned cautious amid a surge in coronavirus cases and the re-imposition of curbs to stop its spread. New restrictions on movement have been imposed in parts…
The Turkish Lira consolidated within narrow ranges as investors turned cautious amid a surge in coronavirus cases and the re-imposition of curbs to stop its spread.
New restrictions on movement have been imposed in parts of Beijing and Lisbon and in two municipalities in western Germany following a sharp surge in cases.
The Turkish currency was also supported by data showing Turkey's economic confidence index climbed to 73.5 in June from 61.7 in the previous month, as the country reopened its economy following weeks of lockdown.
USD/TRY is trading flat at 6.8540, 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 6.8401 and break below could take it near 6.8370.
