0806 GMT [Dow Jones]--TRY strengthens to its highest level against the dollar since Dec. 25, with USD/TRY falling below 2.08. "While Fed Chair Yellen's speech brought nothing much new to their current policy stance, easing tension over Ukraine following Russian president Putin's comments, and stronger than expected China exports, led risk assets to revive," says Turk Ekonomi Bankasi. It notes that TRY liquidity may ease today, due to technical factors, but CBRT doesn't seem to be easing liquidity conditions yet, after experiencing its negative impact in the beginning of April. USD/TRY now trades at 2.0799.(yeliz.candemir@wsj.com)
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May 08, 2014 04:06 ET (08:06 GMT)
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