The US Dollar rose against the Turkish Lira during the European session, trading above 38.280 levels.
The USD/TRY volatile currency pair spiked in the European session, as the mayor of Istanbul was arrested increasing insecurity prompting the Central Bank of Turkey to sell a record amount of FX reserves in order to stabilise the currency. In Turkey, there are no data releases scheduled today. In the US, the Fed interest rate decision (4.5% exp, unchanged) will be released (18:00 GMT) followed by the press conference (18:30 GMT).