The Turkish Lira continues to depreciate in the second half of the week and is now lifting USDTRY to fresh two-month tops around 5.80.
The Turkish Lira is depreciating vs. the Buck for another session and is pushing USDTRY to weekly tops beyond the 5.61 handle, where some decent resistance has turned up.
Political tussle between the US and Turkey keeps the USDTRY pair above 200-DMA despite broad trade political pessimism surrounding the US Dollar.
After briefly moving above the 5.61 handle, USDTRY met some selling impetus and is now returning to the sub-5.60 region.
In this USDTRY analysis, the Turkish Lira is picking up further pace today and pushes the pair to fresh tops in beyond the 6.10 mark.
This is another boost to fortify the financial sector in Russia as Two new currency pairs pioneer on Moscow futures exchange, following regulators effort to curb financial crimes.
The market has seen a major fluctuation in USD pairs mostly due to stalling USD strength as expectations decline for the number of rate hikes from the FED
Inflation and market sentiment are among the most searched terms in Forex media and traders look for Gold trading opportunities via risk on - risk off