Euro Area Liquidity Boosts Euro Against Turkish Lira

The Eurosystem's base money has seen an increase of EUR 7.9 billion to EUR 3,973.7 billion, boosting euro area liquidity.

This added liquidity may support underlying demand for the euro against the Turkish lira in cross-currency dynamics.

However, a EUR 22.4 billion drop in the net balance of open market operations and standing facilities limits short-term liquidity for EUR/TRY.

EUR/TRY is showing strong upside momentum with a projected range of ₺55.5121 to ₺56.0701, supported by overbought technicals.