USDTRY / 05/01/2015 10:48:52 CPI Data Will be FollowedLast Friday, emerging market currencies depreciated against dollar due to dollar appreciated– dollar index rose to above 91,00 level- on a global basis. On the other hand Turkish Central Bank raised foreign exchange reserve requirement ration in the weekend, citing the need to support financial stability amid volatility in global markets. After that the pair continued its upward movements.
Today CPI data will be announced in domestic side while San Francisco Fed president Williams speech will be followed by the markets in the US side.
Technically the 2,35 level is important level for the pair. In case of the pair staying above the this level, then the 2,36 and the 2,37 level can be targeted. But in case of the pair breaking the 2,35 level, then the selling pressure would be increase. In this context 2,3440 and the 2,33 level would be tested.