USD/TRY will continue to move higher in the following days

The pair will continue to move higher in the following days to retest its 9-month high. The escalating tension between Russia and Turkey is an opportunity for the United States to improve ties with Turkey. In recent months, the US-Turkey relations fell. This was after Ankara purchased Russia’s S-400 missile defense system. Turkey is a member of the US-led NATO (North Atlantic Treaty Organization). As part of the group, the country was able to purchase US’ most advanced fighter jet, the F-35. America argued that F-35 is not compatible with S-400. On Monday, February 03, Russia-backed Syrian government forces killed five (5) Turkish soldiers. This has put the future relations between the two (2) countries in question. Turkish President Recep Tayyip Erdogan said that the Assad government will face consequences for killing its soldiers. Furthermore, US killing Iranian General Qassem Soleimani is beneficial to Turkey.