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- USD/TRY: New year, old trends, risks skewed to the upside – Credit Suisse
USD/TRY: New year, old trends, risks skewed to the upside – Credit Suisse
Economists at Credit Suisse see scope for still sizable volatility in USD/TRY in the weeks ahead as the government continues to tackle lira weakness via unconventional policies. At current levels of around 13.40, they see mainly upside risk to USD/TRY.
Unconventional policies
“There is scope for still sizable moves in USD/TRY in the weeks ahead as the government experiments with unconventional measures. The fact that USD/TRY implied volatility remains at multi-year highs is justifiable.”
“We cannot forecast levels for USD/TRY with a high degree of confidence at this point but at current levels of around 13.40, we think USD/TRY risk remains weighted towards the upside.”
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