Usd/try slips Despite Weak Turkey Data

  • Turkey deficit sharply wider at USD 6.75bln in May vs 4.97bln in April
  • USD/TRY edges lower from today’s 2.7100 high at 2.6932 after trade data
  • Weak confidence shrugged off yesterday, traders sidelined watching Greek news
  • US 10 yr yield eases slightly, rate hikes getting priced out, setting-up potential big reaction to likely decent NFP result
  • Coupled weak local data, seems prudent to buy USD/TRY dips 

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