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The US dollar gained against the Turkish lira on Tuesday as renewed tensions in the Middle East supported demand for the US currency.
Relations between the United States and Iran remain in focus, while concerns over the security of shipping through the Strait of Hormuz and the Red Sea have kept energy markets on edge. Both waterways are critical for global oil and liquefied natural gas shipments.
Markets are also following recent statements by US President Donald Trump on Iran and the Houthis' announcement of a maritime blockade targeting Saudi Arabia, developments that have raised concerns over the stability of regional energy supplies.
The dollar received additional support from expectations that the US Federal Reserve will keep interest rates at restrictive levels for longer. Strong economic data and persistent inflation have reduced expectations of an early shift in US monetary policy.
In Türkiye, the US dollar opened at 47.17 lira and traded as high as 47.21 lira during the day. (ILKHA)
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