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A reminder on geopolitical tensions - Rabobank

FXStreet (Guatemala) - Analysts at Rabobak explained that Geo-political developments provide further reason for caution.

Key Quotes:

"US and several Gulf Arab allies yesterday launched air missile strikes on Islamic State strongholds in Iraq".

"Following recent comments from US Secretary of State John Kerry who expects Turkey to do more in fight against IS, Turkish Prime Minister Davutoglu stated that Turkey will decided on such issue in line with its national interests. Davutoglu proposed to form a “safe zone” on the other side of Turkey’s borders amid fighting in Iraq and Syria".

"Tensions at the border with Syria escalated over the weekend when Turkish forces used tear gas and fired shots in the air to disperse hundreds of Kurds who attempted to enter into Syria and fight against Islamic State militants who targeted a Kurdish-dominated town of Kobani".

USD/TRY appreciated to 2.2483 high on Monday (the highest since March) amid growing geopolitical risk before better than anticipated China’s manufacturing PMI provided modest relief".

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