US dollar rises to 3-month high against Turkish lira at 3.60

DAILY SABAH
ISTANBUL
Published 06.10.2017 10:23
Updated 06.10.2017 10:46

The U.S. dollar rose to 3.60 against the Turkish Lira on Friday, its highest rate since July, as it scaled 7-week highs before U.S. jobs data.

The dollar/lira exchange rate reached 3.601 by around 09.50 a.m. local time Friday, up from 3.566 at Thursday's close. The last time the U.S. dollar reached the 3.60 level was on July 12.

The hike came as the dollar drew additional support after data released on Thursday showed that orders for core capital goods in August were stronger than previously reported, suggesting that robust business spending could help offset some of the economic drag of Hurricanes Harvey and Irma.

The dollar index, which measures the dollar's value against a basket of six major currencies, last traded at 93.955. It rose to 94.016 at one point on Friday, its strongest level since Aug. 17.

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