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Forex majors find support as lira selling abates, for now
There has been a much needed pause for breath across financial markets this morning as the selling pressure on the Turkish lira has just seemed to abate, allowing traders to take stock of what the outlook is. This could mean some room for a near term technical rebound on market sentiment. The Turkish central bank has promised to provide liquidity for the lira and this has just put the brakes on the embattled currency’s slide this morning, which has unwound from yesterday’s session high of 7.21 back around 6.70 this morning (although the currency remains very volatile and liquidity likely thin). However, this is ... (full story)