USD/TRY trades on the defensive around 13.4000 By pabspiovano USDTRY Turkey Currencies Crosses
Turkey’s Budget Deficit jumped to $145.74B in December.The Turkish currency adds to Friday’s small gains and manages to keepUSD/TRY sheds ground for the second session in a row at the beginning of the week, although it remains largely within the range bound theme in place since the new year kicked in.pari passucalendar
: Progress of the government’s new scheme oriented to support the lira via protected time deposits. Constant government pressure on the CBRT vs. bank’s credibility/independence. Bouts of geopolitical concerns. Much-needed structural reforms. Growth outlook vs. progress of the coronavirus pandemic. Potential assistance from the IMF in case another currency crisis re-emerges. Earlier Presidential/Parliamentary elections?So far, the pair is retreating 0.30% at 13.4259 and a drop below 12.
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