TRY could set the tone for its peers - Rabobank

Rabobank analysts point out that at the start of a new week of trading, TRY is the weakest link due to its specific domestic factors.

Key Quotes

“The sharp spike in USD/TRY has caught the attention of other USD/EM pairs with USD/ZAR also looking nervous.”

“Essentially, contagion from Turkey could spill into other EM countries if the lira selloff escalates markedly in the coming weeks.”