USD/TRY seesaws near record high below 19.00 ahead of Fed, Turkish inflation – by anilpanchal7 USDTRY Inflation Fed RiskAppetite Currencies
refreshed an all-time high of 83.45 in September. It’s worth noting that the inflation number is expected to new the record top with the 85.6% figure for October, expected to be released on Thursday.
Alternatively, headlines from China appeared to have recently favored the market’s sentiment amid sluggish US Treasury yields, which in turn probes the USD/TRY bulls. The Governor of the People’s Bank of China , Yi Gang, recently crossed wires and stated that China's economy remains broadly on track. “We hope the housing market can achieve a soft landing,” added the policymaker.
Although the 19.00 threshold restricts short-term USD/TRY upside, sellers remain absent unless witnessing a clear downside break of the fortnight-long support line near 18.50. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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