The USD/TRY traded higher during the Asian session on Thursday at 5.3762 as the dollar strengthened against a basket of other currencies following the midterm elections which delivered a split verdict with Democrats winning the House and the Republicans retaining the Senate. US Turkey relations have improved following the announcement of a US move to offer rewards for information on three members of the outlawed Kurdistan Workers Party that Turkey considers an important terrorist organisation. The US recently added Turkey to its list of countries temporarily exempt from importing oil from Iran, due to its sanctions against the country. Geopolitical issues have come together recently and helped to support the Turkish Lira which this week has traded at levels not seen since September.
