LiteForex - Analytics

    LiteForex

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    USD/TRY: decline continues on 20.11.2015

    A downward trend in the USD/TRY pair has been strong since 1 October. The demand for the TRY grew when air strikes began in Syria. Turkey is Syria's neighbor and serves as an important transit hub for oil supply to Europe from the Middle East. Increased risks, related to possible disruptions in oil supply, are raising demand for the TRY. Moreover, the currency gained more support when Turkey's ruling Justice and Development Party won a parliamentary election.

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