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3 Mar 2015
USD/TRY drops to lows on CPI
FXStreet (Edinburgh) - The Turkish lira is appreciating further vs. the dollar on Tuesday, dragging USD/TRY to fresh session lows in sub-2.51 levels.
USD/TRY weaker on data
The pair intensified its decline after consumer prices in the Turkish economy rose 0.71% on a monthly basis during February and 7.55% over the last twelve months vs. prior surveys at 0.75% and 7.42%, respectively. Further data showed Producer Prices gaining 1.20% MoM and 3.10% YoY.
USD/TRY relevant levels
At the moment the pair is down 0.24% at 2.5115 with the next support at 2.5009 (low Mar.2) ahead of 2.4909 (low Feb.27). On the upside, the immediate hurdle lines up at 2.5278 (high Feb.27).
USD/TRY weaker on data
The pair intensified its decline after consumer prices in the Turkish economy rose 0.71% on a monthly basis during February and 7.55% over the last twelve months vs. prior surveys at 0.75% and 7.42%, respectively. Further data showed Producer Prices gaining 1.20% MoM and 3.10% YoY.
USD/TRY relevant levels
At the moment the pair is down 0.24% at 2.5115 with the next support at 2.5009 (low Mar.2) ahead of 2.4909 (low Feb.27). On the upside, the immediate hurdle lines up at 2.5278 (high Feb.27).