The TRY Crisis is Still in Process. The Turkish Lira Depreciated 26% in August

Tuesday, 04/09/2018 | 11:07 GMT

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The TRY crisis is still in process. The Turkish Lira depreciated 26% in August. Yesterday's inflation data was at 17.90 % (excluding August) indicating an urgency on monetary policy. However the Lira's declination exceeded the expected figures thus reflecting the real economy. In contrast the Finance Minister Albayrak, in his statement, sees no major risks for the economy. Now the market waits for the CBT meeting taking place September 13. Major support is found at the 5.9490 and Resistance at the 7.1100.

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Source: https://www.exclusivecapital.com/usdtry-september-4-2018-weekly-analysis/

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