Deutsche Bank

FX Blueprint 2026: The Great Rotation

LIVE12 December 2025USD bearish

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USD/TRY

Name: Investment Bank FX Research Directory
Creator: FX Bank Forecast
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Keywords: bank FX research, investment bank reports, FX strategy, institutional research directory, bank forecasts

TRY managed depreciation continues. Carry attractive but spot will weaken. Total

Neutral

DB Forecast Path

Cross-Firm Forecast Comparison

Key Drivers

Managed depreciation

Carry appeal

CBRT policy

Inflation deceleration

Authorities' commitment

All Firm Targets (Dec '26)

JPMBullish53.50

DBNeutral52.50

MS52.00

MUFG52.00

BARCModerately Bullish51.50

BofANeutral51.00

ING50.50

GS50.00

Analysis Summary

TRY managed depreciation continues. Carry attractive but spot will weaken. Total return still positive via options carry.

View all currencies across firms

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