The USD/TRY pair leaves behind Friday’s doji-like session and resumes the uptrends on Monday, always with the key 18.00 mark as the immediate target for bulls.
The lira remains on the defensive despite the better mood in the risk-associated universe, although market participants appear wary ahead of the publication of inflation figures tracked by the CPI in Türkiye later in the week.
In addition, the radio silence around the Turkish central bank and the lack of details regarding the progress of the protected time deposits scheme contributes further to the prevailing uncertainty and weigh on TRY.
Earlier in the domestic calendar, the Manufacturing PMI receded to 46.90 in July (from 48.10).
In other news, the GBP/USD has retreated from the daily high it touched above 1.2250 but managed to hold above 1.2200. The dollar is having a difficult time finding demand on Monday as market participants await the ISM Manufacturing PMI data for July.
Source- FxStreet
