The FOMC meeting had a neutral impact on the FX market with emerging currencies holding onto their recent gains and EURUSD being locked between higher inflation in Germany (positive) and budget uncertainties in Italy (negative). The Turkish lira is a standout on Thursday are more and more sources suggest a repair in relations between the US and Turkey where a court could free US pastor next month. USDTRY is about to test the key level of 6.00, a barrier that was not broken even after the central bank raised rates to 24%. This test could decide over the future of this currency pair for the next few weeks.
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