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While responding to the Turkish court’s conviction of the US Consulate General employee, US Secretary of State Mike Pompeo said the charges levied as baseless and can harm the US-Turkey relations.

Key quotes

US is deeply troubled by the Turkish court conviction of US Consulate employee in Istanbul.

Charges are baseless.

The conviction harms US-Turkey relations.

FX implications

Given the news weigh on the Turkish Lira, USD/TRY carries the previous day’s run-up to 6.84 following the release.

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