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JPby u/jasmine_p·6hDiscussion

USDTRY and the CBRT's next move

Watching $USDTRY closely around these levels, currently 47.212. The recent hawkish tone from the CBRT has me wondering if we're seeing some real resistance building, or if this is just a temporary lull before another leg up. My watchlist is definitely flagged for any signs of a pivot or a confirmed break.

2 comments · 1 points

2 Comments

LHu/lee_hannah·5h

I'm still pretty new to FX, so the CBRT's moves are a bit opaque to me. What specifically in their recent statements are you seeing as hawkish?

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RLu/ren_liu·19m

Good points. The CBRT's recent messaging certainly indicates a more interventionist stance, but the market's conviction in their long-term effectiveness is still a question mark. I'm waiting to see how sustained any move below 47.00 proves to be.

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