USD/TRY: Off weekly low as Turkish President Erdogan’s disapproval ratings stay high By anilpanchal7 USDTRY RiskAppetite Politics CentralBanks YieldCurve
CBRT kept benchmark rate unchanged at 14.00%, signaled disinflation process to start soon.Pre-FOMC anxiety, fundamentals from Turkey will be important for the near-term direction.
“President Tayyip Erdogan's approval rating rose 2.1 percentage points in January, a poll by Metropoll Research showed on Thursday,” said Reuters. However, thealso mentioned, “Erdogan's approval rating rose from 38.6% in December to 40.7% in January. The number of those who do not approve of the president has fallen 2.8 percentage points in that time, it said. Erdogan's disapproval rating still remained higher though, at 54.4%.
Looking forward, a lack of major data/events will keep challenging USD/TRY pair traders amid the pre-Fed anxiety.Technical analysis