USD/TRY: Scope for a break above 19.00 by the end of the quarter – Credit Suisse

Economists at Credit Suisse set their end-Q3 USD/TRY target at 19.00 and anticipate a more challenging Q4 for the lira.

Expecting an orderly rally in USD/TRY, for now

“We expect the rally in USD/TRY in the coming weeks to remain relatively orderly. We mark an end-Q3 target of 19.00, which is only slightly above the forward rate.” 

“The outlook for the lira looks set to become more challenging in Q4 when the summer-period favourable current account seasonality ends.”