Daily - 03/09/2010 17:03
Fx markets opened steady on Friday ahead US non-farm payrolls. USD/TRY started the day over 1,51 but dropped below this level on rising EUR/USD and firming equities before US open. After better than expected coming US non-farm payrolls; USD/TRY tested below 1,50 while EUR/USD jumped over 1,2870. USD/TRY closed the day at 1,5020. USD/TRY traded in the 1,4994-1,5142 range throughout the day. TRY ended the day up 0,67% against the USD, 0,19% against the EUR and 0,40% against the basket versus Thursday Turkey close. TRY basket dropped below 1,72 in the line with easing global markets. We expect USD/TRY to trade in the 1,48-1,53 range during the following days.
