Turkish Lira: External Pressures Intensify Post-Trade Data – Commerzbank Analysis

Commerzbank's analysis of Turkey's June trade figures reveals a 26.2% YoY widening of the trade deficit to USD 10.4 billion, intensifying external pressures on the Turkish Lira. This reinforces a bearish outlook for TRY against major currencies like USD and EUR, driven by monetary policy divergence and persistent current account concerns. Traders should anticipate continued Lira weakness, with strategic preference for long USD/TRY positions.