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TRY/USD (TRYUSD=X)
| Previous close | 0.0308 |
| Open | 0.0308 |
| Bid | 0.0308 |
| Day's range | 0.0307 - 0.0308 |
| 52-week range | 0.0296 - 0.0516 |
| Ask | 0.0308 |
- Investing.com
Erdogan confirms 'sultanate,' Turkish lira heading for new lows
Investing.com - With 52% of the votes, Recep Tayyip Erdogan has been confirmed as Turkey's president until 2028, beating opposition leader Kemal Kilicdaroglu, who garnered just under 48% of the votes, in the second round.
- Investing.com
Dollar slips from near five-week high; Turkish lira weakens
The U.S. dollar edged lower in early European trade Monday, but remained near a five-week high on inflation concerns, while the Turkish lira retreated on political uncertainty. The Federal Reserve raised interest rates last week for a 10th straight time, but hinted that it may be about to pause the most aggressive round of policy tightening in 40 years as it studies the economic data and assesses the impact of the tightening to date. Consumer prices rose 4.9% in April, a drop from 5% in March, but still far higher than the Fed's 2% target, suggesting inflation remained sticky, while a survey of U.S. consumers' long-term inflation expectations jumped to the highest since 2011.
