The Turkish lira bounced after falling earlier today. The currency got a boost from the improving market sentiment as well as positive domestic macroeconomic data.
Market sentiment was improving as the Chinese stock markets halted decline and the Shanghai Stock Exchange Composite Index edged higher today. Yesterday, a report showed that Turkey’s current account deficit narrowed in November. Today’s explosion in Istanbul made investors worry a little, but it was nowhere near as big as the last year’s bombing in Ankara, resulting in a muted reaction to the news.
USD/TRY slipped from 3.0327 to 3.0295 as of 13:14 GMT today after rising to 3.0487 intraday.
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