Against the backdrop of tension between the US and Turkey, the lira continues to decline. The US dollar is also departing from the recently updated high. The dollar index is currently trading around 93.30.
Following North Korea's recent announcements of new missile tests and the suspension of the issuance of non-immigrant visas by the US Embassy in Ankara, the demand for safe assets has increased and has suspended the climb of the dollar. Nevertheless, the prospect of an increase in interest rates and the introduction of a new tax reform continue to support the dollar's exchange rates.
The fall of the lira, which confirmed the vulnerability of the Turkish economy, as well as the conflict in neighboring Syria, which is increasingly drawn into the Turkish government, contributed to the increase in the price of oil.
