USD/TRY: Turkish Lira renews record low as US Dollar licks its wounds ahead of US inflation, Fed – by anilpanchal7 USDTRY RiskAversion Employment Inflation Fed
US Dollar pares recent losses as traders reassess Fed bets ahead of US inflation.
That said, the Turkish Lira pair previously ignored the appointment of a new Governor for the Governor of the Central Bank of the Republic of Türkiye . The reason could be linked to the US Dollar’s broad rebound, as well as the TRY trader’s positioning for the rate hikes. US Dollar Index dropped in the last two consecutive weeks, mildly bid near 103.60 at the latest, even as downbeat prints of the US activity numbers for May joined disappointing employment clues to weigh on the US Dollar. The reason could be linked to the market’s cautious mood ahead of Tuesday’s US Consumer Price Index and concerns that the US employment and inflation conditions aren’t yet suitable for the rate hike pause.
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