Turkish Foreign Ministry: Turkey strongly condemns backing of US sanctions – Reuters

Following the news that the United States's (US) House of Representatives overwhelmingly backed the legislation to sanction Turkey, the Turkish Foreign Ministery crossed wires, via Reuters. The office said to strongly condemn backing of the US sanctions while also calling the US administration to take measures avoiding steps that will further damage bilateral ties.

FX implications

As markets shift gears to the key day amid initial Wednesday morning in Asia, reaction to the news has been quite mild. Though, this could weigh on risk sentiment and the Turkish Lira (TRY) when the trading activity gains pace during the European/US session.