The US Dollar rose higher against the Turkish Lira during the European session, trading above 40.06 levels.
The USD/TRY pair extended its advance, as unresolved inflationary pressures and monetary instability are creating a negative downtrend for the Turkish lyra. In Turkey, Industrial Production figures for May were released with data being higher for this month than the month before (4.9% this month vs 3.1% for the previous one). In the US, Initial Jobless Claims data (236k exp) will be published (13:30 GMT+1).