USD/TRY grinds near record high as Turkish elections tease Presidential runoff vote – by anilpanchal7 USDTRY Politics RiskAversion FiscalPolicy Fed
by early Monday in Europe. In doing so, the Turkish Lira pair also bears the burden of a likely Presidential runoff voting, up for May 28. However, the recent retreat of the US Dollar, amid cautious optimism surrounding the US debt ceiling extension, appears to prod the pair buyers as they keep the record high on their radar.
Elsewhere, hawkish Fed talks and mostly upbeat US data also keep the USD/TRY pair directed towards the all-time high marked the previous day near 20.40. That said, Fed Governor Philip Jefferson and St. Louis Fed President James Bullard defend the US central bank’s current monetary policy while citing higher inflation as a major challenge. On the same line, Fed Governor Michelle Bowman said Friday, “Policy rate will need to remain sufficiently restrictive for some time.
Moving on, USD/TRY traders should pay attention to US debt ceiling talks, US Retail Sales for April and Friday’s speech from Fed Chair sellers to break to retake control. Until then, The Turkish Lira bears are on their way to refreshing the record high, marked the previous day near 20.42.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Turkey faces runoff election as Erdogan survives first test, USD/TRY braces for fresh record highTurkey faces runoff election as Erdogan survives first test, USD/TRY braces for fresh record high – by anilpanchal7 Turkey USDTRY Politics RiskAversion NewsTrading
Read more »
Polls open in Türkiye for presidential, parliamentary electionsPolls open across Türkiye for the country's presidential and parliamentary elections with more than 64 million eligible voters
Read more »
Turkish intelligence 'neutralises' senior PKK terrorist in Syria's HolThe Turkish National Intelligence Organization (MIT) neutralises Haydar Demirel, a self-proclaimed general manager of the Hol province of the PKK/YPG terrorist organisation during an operation in Syria.
Read more »
‘Biased Western media trying to influence decision of Turkish voters’The biased reporting of Türkiye's presidential and parliamentary elections by Western news outlets has been subject to criticism, with some suggesting they are attempting to influence Turkish voters
Read more »
Cooperation key for lasting stability in Syria: Turkish FMSyria has been embroiled in a vicious civil war since early 2011, when the Bashar al Assad regime cracked down on pro-democracy protests with unexpected ferocity.
Read more »
This is why Turkish elections can’t be riggedContrary to what foreign media is saying, Türkiye’s May 14 election is being held in a transparent and fair manner
Read more »