The US Dollar rose higher against the Turkish Lira during the European session, trading above 40.16 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, Retail Sales figures for May were released with data being higher for this month than the month before (17.7% for this month vs 11.7% for the previous month). In the US, the WASDE Report will be published (17:00 GMT+1).