"Buy the rumor - sell the fact" action for USD/TRY
During today's Turkish central bank meeting, the market anticipated a rate cut between 200-300 pips.
European equities pause
On Monday, European equities got off to a weak start after two winning weeks, with cyclical shares among the biggest divers, while M&A was still in focus.
Stocks in some competitors of Carillion edged up right after the long-struggling construction and support services company suddenly collapsed, with financial institutions refusing to lend it money any more.
Among Carillion rivals, Serco rallied 3.4%, Interserve gained 1.9%, Balfour Beatty edged up 0.2%, while Kier Group inched up 0.3%.
While the STOXX has seen a firm start to this year and has demonstrated its highest readings since August 2015, diving energy and banking equities kept the index in negative territory. Meanwhile, a stronger common currency contributed to this pressure.
The STOXX 600 index slumped 0.1%, Euro zone blue chips headed south 0.1%. As for so-called cyclical equities, whose revenues appear to be the most sensitive to the strength of the EU economy, they have become the sector winners in 2018.
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