Daily - 29/07/2010 17:03
FX markets opened steady on Thursday. USD/TRY started the day over 1,51 but during the morning trading hours dropped below this level on rising EUR/USD. After US open USD/TRY closed the day at 1,5098. USD/TRY traded in the 1,5080-1,5149 range throughout the day. TRY ended the day up 0,14% against the USD, down 0,31% against the EUR and down 0,12% against the basket versus Wednesday Turkey close. Central Bank’s rising FX reserve ratio decision made limited effect on TRY basket. We expect USD/TRY to trade in the 1,49-1,53 range during the following days while tracking EUR/USD.