EUR / TRY - Politics to remain on the spotlight
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Since late January, the Central Bank of the Republic of Turkey has produced consistent efforts to stabilize the currency. This has produced tangible results with a upward correction although persistent political tensions. Erdogan's referendum victory is likely to be the most market-friendly option. A "No" scenario may lead to early elections and a period of political uncertainty.
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"No" ahead in latest public opinion Surveys. Market negative. The likelihood of increased political turmoil and early elections increases.
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