24 September, 2021
The USD/TRY edged upwards during the Asian session to trade at 8.7676. The pair spiked higher to an all-time high on Thursday as Turkey’s currency crisis never ends. The Central Bank of the Republic of Turkey just lowered its One-Week Repo Rate for September to 18.00%, less than the 19.00% that had been forecast. The latest central bank governor is far from independent and taking orders from President Edrogan. In the United States, Initial Jobless Claims for the past week printed at 351,000. The consensus forecast was 320,000 new claims for the week. The U.S. Manufacturing PMI for September was 60.5 and the Services PMI for September was 54.4. Both missed their estimates which were 61.5 and 55.0 respectively.