- Analytics
- News and Tools
- Market News
- USD/TRY: Ceasefire may provide only a short-term relief - Rabobank
USD/TRY: Ceasefire may provide only a short-term relief - Rabobank
According to Piotr Matys, Emerging Markets FX Strategist at Rabobank, the Turkish lira might not be completely out of the woods just yet despite the recent recovery.
"The Turkish lira is in a recovery mode after Turkey and the US agreed to a temporary ceasefire to allow Kurdish fighters – who until recently were US allies in the region – to retreat from the area which Turkey intends to use as a safe zone to relocate a few millions Syrian refugees. While the agreement negotiated by Vice President Pence is a step in the right direction, the respite for the lira could be short-lived if the 5-days ceasefire does not lead to a permanent truce. There seems to be – based on comments from various lawmakers – a relatively strong incentive on Capitol Hill to penalise Turkey for its military offensive in northern Syria, even if it is rational and justified from the Turkish perspective due to the overwhelming number of Syrian refugees and Kurdish fighters being a threat to Turkey’s security. The risk of tough economic sanctions hasn’t vanished".
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
