USD/TRY now down below 6.20
And the relative calm here is helping to give a lift to other currencies on the day against the greenback too. The euro has pared losses against the greenback to trade at 1.1346 near the day's high of 1.1350. Same goes for cable as it now trades at 1.2724 nearing the high of 1.2734 posted earlier in the day.
The euro should be the bigger beneficiary in all of this as a softer lira will help to ease concerns of regional banks being affected by their exposure to Turkish credit. The dollar meanwhile has basically pared all gains on the day.
