USDTRY waits for CB interest rate decision to bounce
On Wed (14th July) Turkish CB will announce one-week repo rate, which affects USDTRY and EURTRY very much.
It is known that Turkish Government is not very keen on high interest rates, despite its necessity. So another rate hike is not expected.
USDTRY is in a descending channel since 22 June, and if there is no more interest rate hikes, we can see an upward momentum to 8,68 first and then up to 8,90.
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It is known that Turkish Government is not very keen on high interest rates, despite its necessity. So another rate hike is not expected.
USDTRY is in a descending channel since 22 June, and if there is no more interest rate hikes, we can see an upward momentum to 8,68 first and then up to 8,90.
Please like and comment if you find this idea useful 👍
Trade active:
Turkish CB did not change the interest rate