Moves Up with Expectation of Cutting Interest Rates / USDTRY / 20/01/2015 10:04:47Before today’s TCMB meeting, the expectations of interest rate cut increased; as a result of this USDTRY pair moved upwards to 2,3465 level, later holding above 2,3320 level.
Today; TCMB’s interest decision will be watched. With the expectation of no...
change in one week repo rate, overnight lending rate and overnight borrowing rate; there is no consensus; which means market forecasts differ within each other, until 25 or 50 base points reduction.
Technically; USDTRY pair efforts to be stable above 2,3320 level. If USDTRY pair takes support from there, 2,3420 and 2,3580 levels would be aimed. If the pair could not stay there, then 2,3200 and 2,3130 levels will be watched as supports.