USD/TRY Uptrend Remains Strong As Safe Haven Appeal and Inflation Concerns Weigh In
USD/TRY steep ascent continued on Friday, with the pair gaining 0.32% to trade at 32.5985. High inflation rate, continues to rock Turkey’s economy, with the figure above 68% as of this writing. Furthermore, the end year CPI forecast for released on Friday came in at 44.16%, a marginal decline from the previous 44.19%. The lira will get support from the small rise in foreign reserves held by the Turkish Central Bank after it revealed that the figure rose from $68.75 […]
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Source:: Investing Cube
