USD/TRY climbs to 2-day highs around 8.1500 post-CBRT

4/15/2021 11:31:44 AM GMT
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By Pablo Piovano
USD/TRY accelerates the upside to the 8.15 area.
The CBRT left the One-Week Repo rate unchanged at 19.00%.
The central bank dropped the commitment to keep a tight stance.
The Turkish lira reverses the recent strength and now pushes
USD/TRY to daily tops near 8.1500.
USD/TRY up following steady CBRT
USD/TRY resumes the upside following three daily pullbacks in a row and after the Turkish central bank (CBRT) left the One-Week Repo Rate unchanged at 19.00% at its meeting on Thursday.
The central bank noted that inflation expectations remain at elevated levels and pose risks to the inflation outlook, although it kept the 5% medium-term target unchanged. Further selling pressure around the lira comes after the CBRT removed its pledge to keep the tightening stance from the statement, noting that the key rate will be set above the inflation rate.

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