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Forex News: Turkish Lira Strengthens To 2-month High Versus U.S.

Turkish Lira Strengthens To 2-month High Versus U.S. Dollar

04/24/2017 - 06:57:00 (RTTNews)

(RTTNews) - The Turkish Lira gained ground against the U.S. dollar in the European session on Monday, as the demand for emerging assets improved after France's centrist Emmanuel Macron attained victory in the first round of French Presidential election.

Investors breathed a sigh of relief after the election outcome, which showed that Macron and far-right leader Marine Le Pen would face-off in the final round on May 7.

The Lira climbed to 3.5796 against the greenback, its strongest since February 24. The next possible upside target for the Lira is seen around the 3.4 region.

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