Be ready for significant fluctuations in the future, as there is likely to be strong volatility ahead once more, according to Commerzbank.

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USDTRY Chart by TradingView

The USD/TRY pair has been stuck in an unnaturally narrow range near the 26.95 mark since after the last central bank meeting (on 20 July). Economists at Commerzbank analyze Lira’s outlook.

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