USD/TRY stays on the front around 27.20 heading into Thursday’s European session. ignoring the lackluster US Dollar amid fresh challenges to the Turki
reversed from the 11-week high the previous day, seesaws around 103.40 by the press time.
It’s worth noting the mostly downbeat Purchasing Managers Index for August from the top-tier economies, including the US, restored the market’s previous concerns about the central bank policy pivot and weighed on the Greenback.dropped to 47.0 for August from 49.0 versus 49.3 market forecasts whereas the Services counterpart also edged lower to 51.0, compared to 52.2 expected and 52.3 marked the previous month. With this, the S&P Global Composite PMI for the US eased to 50.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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