USD/TRY eyes 3.05 in 3-month – Danske Bank

Senior Economist at Danske Bank Vladimir Miklashevsky believes the Turkish Lira could depreciate further in the next 3 months.

Key Quotes

“Given the increased political uncertainty, less clarity on the future government’s commitment to implement structural reforms and a risk of rising pressure on the central bank, we raise our USD/TRY forecasts to 3.05 in 3M (previously 2.90), 3.10 in 6M (previously 2.95) and 3.12 in 12M (previously 3.00)”.