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Turkish Lira Gains on US Dollar Despite Unfavorable Data

June 18, 2019 at 12:01 by Vladimir Vyun

Turkish 200-lira billsThe Turkish lira gained on the US dollar today. That is surprising considering that macroeconomic data released in Turkey during the trading session was unfavorable.

Turkey’s industrial production dropped 4% in April, year-on-year, after falling 2% in the previous month. The consensus forecast had promised a smaller decline by 2.5%. Retail sales tumbled 6.9% in April, year-on-year, also more than was expected.

USD/TRY dropped from 5.8700 to 5.8333 as of 12:01 GMT today.

If you have any questions, comments, or opinions regarding the Turkish Lira, feel free to post them using the commentary form below.

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