Iran's military launches an unannounced military exercise near Turkish border - Sputnik

Dhwani Mehta FXStreet

Sputnik News reports the latest headlines carried by the Iranian Students News Agency that cited Iran's military has launched an unannounced military exercise near the country's border with Turkey.

This comes amid ongoing geopolitical tensions between Turkey and Iran-allied Syria to clear the northern region of the country of Kurdish militants from the border.

Oil prices appear to be breaking higher on the above headlines, with WTI printing daily highs and fast approaches the 53 handle while Brent bounces to 58.50.

Meanwhile, the Turkish Lira remains on the offers, with USD/TRY holding higher ground near two-month tops of 5.8464. At the press time, USD/TRY advances +0.30% to near 5.8420.

Its worth noting that the US President Trump warned earlier this week that any unnecessary fighting by Turkey will be devastating to their economy and to their very fragile currency.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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