Turkish Lira seen outperforming peers this week - Bloomberg

Bloomberg is out with a survey of strategists, which showed that the Turkish Lira is seen outperforming its high-yield peers in difficult week for emerging markets so far.

Key Points:

“While the currency quickly erased a jump after policy makers raised a key rate more than expected on Wednesday, it is still beating peers this week.

The central bank has provided a buffer from the torrent of bad news that is hurting emerging markets, from higher U.S. Treasury yields to rising oil prices.

 Investors are likely to interpret Wednesday’s central bank decision as a sign that policy makers won’t hesitate to backstop the currency with higher rates ahead of elections in June.”