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TRY faces further downside – Danske Bank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - Strategist at Danske Bank Vladimir Miklashevsky sees the Turkish lira weakening further in the short-term.

    Key Quotes

    “While the election results stabilised the situation and improved sentiment in late 2015. The coin has been flipped by recent (geo)political developments on fights against Kurds and increasing tension with Russia”.

    “We expect the lira to weaken on a 3M horizon as we expect political uncertainty and the Fed’s possible hikes to weigh on sentiment. However, we forecast a slight improvement in the TRY spot in the long run due to Turkey’s sustainable macro indicators, as low oil prices ease the pressure on the current account deficit”.
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