Political stress and energy shock drive weaker Lira – MUFG

Political stress and energy shock drive weaker Lira – MUFG

MUFG analysts see growing downside risks for the Turkish Lira (TRY) versus the US Dollar (USD) as domestic politics and an energy-driven terms-of-trade shock strain Turkey’s external position. With limited FX reserve ammunition and rising geopolitical uncertainty, they now judge upside risks to their USD/TRY forecasts, flagging the possibility of faster depreciation or even a […]