USD/TRY

Stay in step with market opportunities and get insights, actionable trade ideas and dedicated support.

  • Newest
  • Popular
Board of currencies

CBRT cuts rates despite soaring inflation, weak Lira

After last weeks surprise rate cut by the CBRT, USD/TRY moved to its highest level since December 20th, 2021.

default avatar
August 22, 2022 08:46 PM
Board of currencies

EM FX: Turmoil in emerging currencies pose big risk to markets

It is worth watching EM currencies closely here as there is a risk we could see further, sharp, selling, which, in turn, could provide a fresh source of threat to the global financial markets.

Currency prices

Lira slumps further as crude oil nears $122

Lira slumps further as crude oil nears $122

Open an account today

Tight spreads from 0.5 pts on FX and 1 pt on indices.

Award-winning platforms with fast and secure execution.

Bank notes of different currencies

European Open: Lira today, ErdoGONE tomorrow

The Turkish Lira hit fresh new lows overnight as President Erdogan fired his Finance Minister (for opposing rate cuts, along with everyone else).

Close-up of market chart

European Open: RBNZ hike, FTSE holds support, Lira in freefall

Technically we suspect the FTSE has seen an important low around 7200 (but we cannot say the same for the flailing Lira). Up later is US GDP and revised consumer sentiment.

The ‘Central Bank of Erdogan’ Sharpens its Rate-Cut Knife

Turkey’s central bank announce their rate decision at 11:00 today. And, if prior meetings are anything to go by, we suspect it will be another lively one.

Graph showing a slow uptrend

USD/TRY explodes through 10. Will it reach 11?

Could this move above 10 just be a “buy the rumor, sell the fact” heading into the central bank meeting?

default avatar
November 16, 2021 09:17 PM
Market chart showing uptrend

Turkey’s inflation data may embolden Erdogan

The inflation print beat expectations of 20.4% YoY, possibly because of the 200bps rate cut on October 21st!

default avatar
November 3, 2021 03:32 PM
Federal reserve building

Asian Open: Powell Says its Time to Taper, but Not Raise Rates

Leaving little room for misinterpretation on Friday, Fed Chair Jerome Powell clearly stated that tapering is imminent yet poured cold water on any rate hike occurring soon.

Graphic of trading data chart

Asian Open: Central Bank of Erdogan (CBOE) pulls no punches

USD/TRY won currency of the day to hit new highs after ‘impartial’ President Erdogan’s hand-picked central bankers cut rates by 200 bps despite raging inflation.

Currency exchange rate board of multiple currencies

European Open: Sentiment Sours Ahead of the Open, Turkish Rate Decision Up Next

News that Fitch ratings agency placed 29 Chinese property developers under closer scrutiny seemed to see a sudden inflow into the yen, knocking many crosses from their (overextended) highs.

Currency exchange rate board of multiple currencies

European Open: Sentiment Sours Ahead of the Open, Turkish Rate Decision Up Next

News that Fitch ratings agency placed 29 Chinese property developers under closer scrutiny seemed to see a sudden inflow into the yen, knocking many crosses from their (overextended) highs.

Market chart showing uptrend

USD/TRY lurches higher as traders question the central bank’s independence, 10.00 next?

Traders’ fears that the nominally independent central bank is becoming hopelessly politicized are being realized, causing a widespread loss of confidence in the lira...

default avatar
October 18, 2021 06:23 PM
Bank notes of different currencies

USD/TRY at all-time highs

If Turkey continues to threaten retaliation against the Kurdish YPG militants or if there is a continued threat that the CBRT will cut rates once again, USD/TRY may continue to put in all-time new highs

Fillon worth a second look, as French election fears start to ease

This time in a week the first round of the French Presidential elections will be known. The latest polls suggest that support for the Far […]

default avatar
April 18, 2017 10:26 AM

Turkish central bank loses credibility as lira decline continues

The Turkish lira has fallen sharply on Tuesday after the central bank failed to raise interest rates as expected. The market had expected to see […]

default avatar
January 24, 2017 12:12 PM

EM Rundown: Could USDTRY bulls quit cold turkey?

Central banks will be traders’ central focus in the G10 this week, with monetary policy “decisions” out of the Federal Reserve, Reserve Bank of New […]

30 days risk-free trading with £10,000 in virtual funds

EM Rundown: Fed rate hike fears drive USD/ZAR to an all-time high

With the market-implied odds of a Federal Reserve rate hike in December skyrocketing from around 30% a few weeks ago up to 68% as of […]

EM Rundown: Policymakers set the tone in China, Turkey, Russia, and Poland

As readers of our week ahead report know, it will be a very busy week for monetary policymakers in the developed markets, with potentially high-impact […]

EM Rundown: Dollar at risk against major EM currencies

With a plethora of major central bank announcements out of the G10 this week, traders will be more focused on developed markets than their emerging […]

EM Rundown: This week’s EM central bank bonanza

After last week’s Federal Reserve excitement, traders would probably be happy for a reprieve from the constant “will-they-or-won’t-they” strategizing that inevitably takes place around major […]

EM Rundown: Geopolitical Risks Abound for USD/RUB and USD/TRY

For most asset classes, the panic-driven moves of last Monday have been erased, with EURUSD completing its 500-pip round trip, US equities actually closing higher […]

USDTRY: TRYing (and Failing) to Form a Government

We rarely check in on the Turkish Lira beyond our weekly Emerging Market FX Rundown, but today’s moves in USDTRY practically mandate a closer look. […]

default avatar
August 13, 2015 07:27 PM