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USDTRY Reaches Fresh Record High

TURKEY
  • USDTRY rose as much as 0.78% to 27.7672 earlier in the session – a fresh record high – though much of the gains have since been pared with the exchange rate up 0.25% at typing. The benchmark Borsa Istanbul equity index has started the session on the backfoot and is down ~0.9% having closed yesterday’s session just shy of the 8500 level.
  • Bloomberg report that Turkey intensified airstrikes on America’s Kurdish allies in Syria after the US shot down a Turkish drone in the region – “Turkish air raids targeting militants in northern Syria add to tensions between Ankara and Washington. They have been at odds over American support for armed groups that Turkey sees as terrorists.”
  • There are no major data releases or speaker events scheduled for today.
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