Daily outlook for TRY: Commerzbank

Quotes from Commerzbank Corporates & Markets:

-TRY: The currency actually recovered most of the losses of the previous two days, as the CBT cut its rates by less than the market expected. Economy Minister Zeybekci came out with expected remarks about more rate cuts being needed.

-That means we are likely to see more political comments in the coming week, possibly hitting sentiment in the TRY. Next week's inflation release will thus be fully in focus now - we continue to see room for more rate cuts, which will make the TRY more vulnerable to any US Fed rate hike.