The US Dollar rose higher against the Turkish Lira during the European session, trading above 39.80 levels.
The USD/TRY pair extended its gains, as monetary instability and chronic inflation are creating downward pressures on the Turkish lyra. In Turkey, the Unemployment Rate for May came out with data being lower for this month than the month before (8.4% this month vs 8.6% for the previous month). In the US, Chicago PMI data for June (42.7 exp) will be released (14:45 GMT+1).