Global  

Celebrating 10 Years of Trusted News Discovery
One News Page
> >

USD/TRY: We continue to remain bearish on the lira - Danske Bank

FXstreet.com Monday, 11 February 2019 ()
Analysts at Danske Bank remains bearish on the Turkish lira but they raise the medium- and long-term outlook slightly due to the currency stabilisation and a more flexible Federal Reserve. 

*Key Quotes: *

“Recent net flows into Turkish bonds and stocks have been positive as a softening US Fed has improved sentiment. According to technical analysis (Relative Strength Index), the USD/TRY continues near ‘the fair value’ where it returned after the significant hike in September 2018.”

“Major downside risks to our TRY forecasts include a surprise monetary easing ahead of local elections held in March 2019, the Fed becoming more hawkish and a geopolitical confrontation in Syria.”

“We raise our TRY medium- and long-term outlook slightly due to the currency stabilisation and more flexible Fed. However, large FX debt redemptions by Turkish private sector and rate cuts will weigh on the TRY in 2019. Thus, we continue to remain bearish on the currency in the long term and forecast USD/TRY at the following levels: 5.40 in 1M, 5.55 in 3M, 5.70 in 6M (previously 6.00) and 6.00 in 12M (previously 6.25).”
0
shares
ShareTweetSavePostSend
 

You Might Like


Tweets about this


Other recent news in Markets

RBA MINUTES: Shift to neutral stance - TDSMajor CHINESE University Launches Blockchain Research Center
Owner of Indeed and Glassdoor Job SEARCH Engines Invests In Privacy Coin Project BeamRecord-Shattering Chinese New Year Box OFFICE Might Bode Well for IMAX
Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  Contact us  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? Send us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest