The Turkish lira is weakening today against the US dollar, which has shown powerful strength in recent days with bond yields rising to new 16-year peaks. The USDTRY is gaining 0.4% after inflation in Turkey came in marginally below expectations, potentially softening the CBRT's stance. Although it has changed dramatically already in recent months - the USDTRY continues its upward trend after a temporary correction.
- Turkey CPI inflation y/y: 61.53% Expectations: 61.6% Previously: 58,94%
- Turkey CPI inflation m//: 4.75% Expectations: 4.8% Previously: 9,09%
Source: xStation5
