USDTRY
USDTRY In a morning when developing country currencies are diverging against the US Dollar, the Turkish Lira is on the weak side of the list with a performance of 0.15 percent, while the USDTRY is currently trading close to 29.00 on the fourth trading day of the week. Our year-end closing target is 29.60, and we think that we will see a dollar exchange rate that has exceeded 30 TL and is now sitting above 30 as of January. The dollar will no longer be heavily suppressed, and will return with an increase in TCMB gross reserves with every decline. Support: 28.48 – 28.30 Resistance: 29.00 – 29.60