Reaction details (02:58)
- In an immediate reaction, USD/TRY spiked up from 1.7897 to 1.7926.
Analysis details (03:00)
- The TRY has appreciated since Fitch upgraded the country’s debt to investment grade. Also, earlier this morning, analysts at Morgan Stanley noted that another sovereign upgrade for Turkey is likely in coming quarters.
- Interest rates in Turkey stands at 5.75%
12 Nov 2012 - 02:56 - - Source: Newswires
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