The USD/TRY pair shows mixed dynamics, holding near the level of 32.3165.

The USD/TRY pair is trading at 32.0100 as part of a long-term uptrend, but this week the quotes have adjusted downwards against the backdrop of the defeat of the ruling Justice and Development Party (AKP) in local elections, which, according to experts, was a consequence of the economic policies of the government and the Central Bank of Turkey. However, the current strengthening of the lira is seen as temporary due to two main factors – ongoing problems in the country's economy and uncertainty around the future actions of the US Federal Reserve.