US Pres. Trump: Will remove US sanctions on Turkey

In a press briefing on Wednesday, United States (US) President Donald Trump announced that they will be removing the US sanctions on Turkey. "Sanctions will be lifted unless something happens that I'm not happy with," Trump added, per Reuters. "We welcome other countries to help in Turkey-Syria conflict."

With the initial market reaction, the USD/TRY fell to its lowest level since October 7th at 5.7280. As of writing, the pair was trading at 5.7300, erasing 1.35% on a daily basis.