The Turkish lira is again the worst EM FX performer to the dollar so far in 2022. Economists at TD Securities expect the USD/TRY pair to push towards 19.00 in the coming weeks.
CBRT still dragging its feet on monetary tightening
“The recurrent patterns of TRY conversion into FX deposits suggest that Turkey's dollarization will continue in the months ahead, after a brief reversal in January and February. This should remove the little support the lira has enjoyed earlier this year, and help it sink towards 19.00 vs USD.”
“The CBRT is unlikely to hike interest rates for now, leaving them on hold at 14% for yet another time on 23 June. The summer months, historically prone to causing currency crisis in weak economies, may however force the CBRT to review its position and start moving nominal rates higher.
“We still expect a total of 1,400 bps of tightening in three consecutive months. We only expect this to start in July instead of June now.”
作者：FXStreet Insights Team，文章来源FXStreet_id，版权归原作者所有，如有侵权请联系本人删除。
风险提示：以上内容仅代表作者或嘉宾的观点，不代表 FOLLOWME 的任何观点及立场，且不代表 FOLLOWME 同意其说法或描述，也不构成任何投资建议。对于访问者根据 FOLLOWME 社区提供的信息所做出的一切行为，除非另有明确的书面承诺文件，否则本社区不承担任何形式的责任。
FOLLOWME 交易社区网址: followme.asia
加载失败()