JPMorgan Is Preparing For The Rapidly Rising TL
JPMorgan stated that it is tactically cautious against taking profits in the Turkish lira.
The international investment institution JPMorgan is preparing for the rapidly rising TL. The bank announced that it is in a tactical position to make a profit in, as the rise in the Turkish Lira has been above expectations for a while.
On the other hand, the agency reported that it closed the weight increase position in the Romanian Leu in the context of preparations for an increase in US real interest rates.
Has Realized the Longest Weekly Fall in 9 Years
USD/TL exchange rate had the longest weekly declining series since 2012 last week. The USD/TL rate, which fell with the messages of the CBRT that it would continue its tight monetary policy for a while and keeping the interest rates constant, was renewed after President Recep Tayyip Erdoğan spoke about his son-in-law Berat Albayrak, who was the former Minister of Treasury and Finance and resigned from his position. USD gained value against the Turkish Lira.
The USD/TL rate, which saw below the 7 level, rose over 7 again after these statements and reached 7.06. The USD/TL exchange rate is currently at the level of 7.02.