TRY continues to trade stronger against emerging-market currencies and the Turkish lira is expected to remain well-supported, Turk Ekonomi Bankasi. "We expect CBRT to increase the funding in the upcoming days, as banks have a huge cash outflow of TRY 15.5 billion on Friday, due to tax payments and repo redemptions," says an analyst with Turk Ekonomi Bankasi. The analyst notes that it should not be perceived as a move on the dovish side. USD/TRY currently trades at 1.7925, compared with 1.7890 late Tuesday.
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