12 June, 2019
The USD/TRY currency pair traded higher on Wednesday during the Asian session at 5.8058 as the Greenback traded stable to slightly higher against a basket of other currencies. Today investors will be looking to the Turkish Central Bank which will decide upon its interest rates later this morning. Turkey’s central bank is expected to leave its key interest rate unchanged at 24% this week, though a Reuters poll suggested its first policy change since September was getting closer, with two of 16 economists predicting a cut. The central bank hiked its policy rate by 11.25 percentage points to 24% last year to battle a currency crisis and stem an inflation spike, and has left it there since September.