The US Dollar rose against the Turkish Lira during the European session, trading above 37.950 levels.
The USD/TRY volatile currency pair traded in a tight band in the European session, as the Central Bank of Turkey is working to keep the currency steady at around 38 lira for the dollar, amid concerns of high inflation and political instability. In Turkey, there is no economic data due for release today. In the US, CPI Inflation data for March (2.5% exp) and US Initial Jobless Claims (223k exp) will be posted (13:30 GMT+1).