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 […]

Canadian Dollar gains support from rising Oil prices as USD/CAD trims intraday gains

Canadian Dollar gains support from rising Oil prices as USD/CAD trims intraday gains

USD/CAD reverses earlier intraday gains on Tuesday, with the Canadian Dollar (CAD) drawing support from rising Oil prices and offsetting broader US Dollar (USD) strength. At the time of writing, the pair is trading around 1.3800 after hitting an intraday high near 1.3821 earlier in the day. Ongoing uncertainty surrounding US-Iran negotiations continues to support […]