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US Defence Secretary Mark Esper recently crossed wires while signaling further hardships for Turkey during next week when he is planning to meet NATO (North Atlantic Treaty Organization) allies.

Key quotes

“Will be meeting with NATO allies next week to press them to take collective and individual diplomatic and economic measures.”

“Turkey incursion into Syria has resulted in the release of captured Islamic state fighters.”

FX implication

While no major reaction to the news could be witnessed, the same increases strength to the market’s risk-off mood.