Comments from Erdogan
- will never compromise on fiscal policy
- governments determination to reach its monetary fiscal policy targets was emphasized
- important measures are being implemented to make up for increases in spending
- we will move with an approach that will not cause disturbance in public finance in the medium and long term
- necessary measures will be taken to the decrease pressure of interest rates and exchange rates and in turn battle more effectively with inflation
- central bank will continue to use the instruments at his disposal effectively in this regard
- open market economic policies will be taking care of carefully
- will not use tools outside of market mechanism regarding the exchange rate regime
The USDTRY moved to a record level today.
Looking at the hourly chart, the price has come off the high but found support buyers near the trend line and the 100 hour MA.