Published at 09:38  (GMT) 18 Jan

USDTRY

Not the most active of starts, though that's rather typical for a Monday morning and with the US out today too most traders appear happy just to cover the customer flow going through, which is also not much. No reaction to the slightly better consumer confidence number (search TRY + DATA), with recent tax changes set to continue to weighing on this index. Progression of IMF talks the primary issues hanging over the market. EconMin Babacan quoted by CNN Turk as saying that the two sides had reached an accord on the mid-term economic plan and that a loan agreement was close to being agreed on, subject to details which including a new fiscal rule which the got had previously touted. Insufficient to provide any positive impetus though, USD/TRY stuck in the mid 1.4500's which is pretty much smack bang in the middle of the current trading range which sits around 1.4450-1.4650 currently. NK