{"id":109936,"date":"2021-01-24T11:19:20","date_gmt":"2021-01-24T11:19:20","guid":{"rendered":"https:\/\/precoinnews.com\/?p=109936"},"modified":"2021-01-24T11:19:20","modified_gmt":"2021-01-24T11:19:20","slug":"goldmans-latest-lira-revisions-see-more-gains-and-rally-limits","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/goldmans-latest-lira-revisions-see-more-gains-and-rally-limits\/","title":{"rendered":"Goldman\u2019s Latest Lira Revisions See More Gains and Rally Limits"},"content":{"rendered":"<p>Goldman Sachs Group Inc. revised its forecasts for the Turkish currency <meta itemprop=\"suid\" content=\"QLMJCRT1UM11\"><meta itemprop=\"type\" content=\"StoryLink\">again, projecting further gains in the near term but warning that \u201cthe extent of lira appreciation may be limited.\u201d<\/p>\n<p>The central bank\u2019s \u201cshift to a <meta itemprop=\"suid\" content=\"QNA6SWDWX2Q0\"><meta itemprop=\"type\" content=\"StoryLink\">hawkish bias should mean that currency markets continue to give the lira the benefit of doubt while the path to positive real policy rates is sustained,\u201d Goldman analysts led by Zach Pandl said in a report to clients.<\/p>\n<ul>\n<li>The U.S. bank now forecasts the lira\u2019s exchange rate against the dollar at 7 in three months; that compares with its earlier three-month projection for 7.50 <\/li>\n<li>\u201cAn upward revision to the end-2021 inflation forecast of 9.4% year-on-year at the inflation briefing next week could provide a more realistic assessment of the outlook and potentially serve as a positive catalyst\u201d<\/li>\n<li>Goldman\u2019s six-month and 12-month dollar\/lira predictions are shifted to 7 and 7.50, from 7.75 and 8.00 previously\n<ul>\n<li>The lira is among the best performers in emerging markets against the dollar this year, closing on Friday at 7.4170<\/li>\n<li>The Turkish currency has appreciated over 14% from a record low reached on Nov. 6, following President Recep Tayyip Erdogan\u2019s shake-up of his economy team<\/li>\n<\/ul>\n<p>Turkey\u2019s central bank left its benchmark interest rate unchanged at 17% at the first monetary policy meeting of the year, pledging to keep it elevated for an \u201cextended\u201d period. <\/p>\n<p>\u201cEven if this shift to more orthodox monetary policy in Turkey is maintained, currency strength may ultimately be constrained by a necessary attempt at rebuilding FX reserves,\u201d Goldman\u2019s <span>analysts said<\/span>.<\/p>\n<table>\n<colgroup>\n<col class=\"news-rsf-table-string\"><\/colgroup>\n<tbody>\n<tr>\n<th class=\"news-rsf-table-string\">Read more on Turkey\u2019s currency and policies:<\/th>\n<\/tr>\n<tr>\n<td>\n<ul>\n<li><meta itemprop=\"suid\" content=\"QNCJ9FDWX2PW\"><meta itemprop=\"type\" content=\"StoryLink\">Erdogan Says He\u2019s \u2018Absolutely\u2019 Against High Interest Rates<\/li>\n<li><meta itemprop=\"suid\" content=\"QNC4DODWLU6D\"><meta itemprop=\"type\" content=\"StoryLink\">Turkish Demand for Dollars Shows First Sign of Abating <\/li>\n<li><meta itemprop=\"suid\" content=\"QNA80JDWRGG6\"><meta itemprop=\"type\" content=\"StoryLink\">Turkey Rating Left Unchanged by S&amp;P at Four Levels Into Junk<\/li>\n<li><meta itemprop=\"suid\" content=\"QNA6SWDWX2Q0\"><meta itemprop=\"type\" content=\"StoryLink\">Turkey Central Bank Says Rates Won\u2019t Be Cut Quickly After Pause<\/li>\n<li><meta itemprop=\"suid\" content=\"QN9XS3DWRGG1\"><meta itemprop=\"type\" content=\"StoryLink\">Turkey Weighs End to Banks\u2019 Dividend Freeze on Recovery <span>Hope<\/span><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Source: <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-01-24\/goldman-s-latest-lira-revisions-see-more-gains-and-rally-limits?srnd=premium\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Goldman Sachs Group Inc. revised its forecasts<\/p>\n","protected":false},"author":3,"featured_media":109935,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Goldman\u2019s Latest Lira Revisions See More Gains and Rally Limits - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/markets\/goldmans-latest-lira-revisions-see-more-gains-and-rally-limits\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Goldman\u2019s Latest Lira Revisions See More Gains and Rally Limits - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Goldman Sachs Group Inc. revised its forecasts\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/markets\/goldmans-latest-lira-revisions-see-more-gains-and-rally-limits\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-24T11:19:20+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/01\/cfntalkfoto1200x66019.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/markets\/goldmans-latest-lira-revisions-see-more-gains-and-rally-limits\/\",\"url\":\"https:\/\/precoinnews.com\/markets\/goldmans-latest-lira-revisions-see-more-gains-and-rally-limits\/\",\"name\":\"Goldman\u2019s Latest Lira Revisions See More Gains and Rally Limits - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2021-01-24T11:19:20+00:00\",\"dateModified\":\"2021-01-24T11:19:20+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/markets\/goldmans-latest-lira-revisions-see-more-gains-and-rally-limits\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/markets\/goldmans-latest-lira-revisions-see-more-gains-and-rally-limits\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/markets\/goldmans-latest-lira-revisions-see-more-gains-and-rally-limits\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Markets\",\"item\":\"https:\/\/precoinnews.com\/category\/markets\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Goldman\u2019s Latest Lira Revisions See More Gains and Rally Limits\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/precoinnews.com\/#website\",\"url\":\"https:\/\/precoinnews.com\/\",\"name\":\"Pre Coin News\",\"description\":\"precoinnews.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/precoinnews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Goldman\u2019s Latest Lira Revisions See More Gains and Rally Limits - Pre Coin News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/precoinnews.com\/markets\/goldmans-latest-lira-revisions-see-more-gains-and-rally-limits\/","og_locale":"en_US","og_type":"article","og_title":"Goldman\u2019s Latest Lira Revisions See More Gains and Rally Limits - Pre Coin News","og_description":"Goldman Sachs Group Inc. revised its forecasts","og_url":"https:\/\/precoinnews.com\/markets\/goldmans-latest-lira-revisions-see-more-gains-and-rally-limits\/","og_site_name":"Pre Coin News","article_published_time":"2021-01-24T11:19:20+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/01\/cfntalkfoto1200x66019.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/precoinnews.com\/markets\/goldmans-latest-lira-revisions-see-more-gains-and-rally-limits\/","url":"https:\/\/precoinnews.com\/markets\/goldmans-latest-lira-revisions-see-more-gains-and-rally-limits\/","name":"Goldman\u2019s Latest Lira Revisions See More Gains and Rally Limits - Pre Coin News","isPartOf":{"@id":"https:\/\/precoinnews.com\/#website"},"datePublished":"2021-01-24T11:19:20+00:00","dateModified":"2021-01-24T11:19:20+00:00","author":{"@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/precoinnews.com\/markets\/goldmans-latest-lira-revisions-see-more-gains-and-rally-limits\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/precoinnews.com\/markets\/goldmans-latest-lira-revisions-see-more-gains-and-rally-limits\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/precoinnews.com\/markets\/goldmans-latest-lira-revisions-see-more-gains-and-rally-limits\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/precoinnews.com\/"},{"@type":"ListItem","position":2,"name":"Markets","item":"https:\/\/precoinnews.com\/category\/markets\/"},{"@type":"ListItem","position":3,"name":"Goldman\u2019s Latest Lira Revisions See More Gains and Rally Limits"}]},{"@type":"WebSite","@id":"https:\/\/precoinnews.com\/#website","url":"https:\/\/precoinnews.com\/","name":"Pre Coin News","description":"precoinnews.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/precoinnews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/109936"}],"collection":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/comments?post=109936"}],"version-history":[{"count":0,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/109936\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media\/109935"}],"wp:attachment":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media?parent=109936"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/categories?post=109936"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/tags?post=109936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}