USD/TRY stays above 14.00 as Russia-Ukraine tussles, Turkish politics favor bulls ahead of US NFP By anilpanchal7 USDTRY Politics Ukraine Fed NFP
Turkish President Erdogan seems to have fired another Minister, this time its Agriculture and Forestry’s turn.US jobs report, geopolitical developments will be crucial for near-term directions.
Russia’s shelling on Ukraine’s nuclear power plant in Zaporizhzhia poured pour cold water on the Russia-Ukraine peace talks that agreed on the safe passage of Kyiv’s civilians the previous day. On the same line were headlines from the UK Times suggesting that Ukraine’s President Volodymyr Zelensky survives three assassination attempts in days.
Amid these plays, S&P 500 Futures drop around 0.50% on a day whereas the US 10-year Treasury yields mark near five pips of a downside to 1.80% by the press time. The risk-off mood underpins the US dollar’s safe-haven demand ahead of today’s key US jobs report for February.Given the USD/TRY pair’s sustained trading beyond the tops marked during November 2021 and January 2022, surrounding 13.95, the buyers are likely advancing towards the previous week’s top near 14.66.
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