USD/TRY slumps to weekly lows near 5.91 on reports of a deal to release pastor Brunson

Citing two senior administration officials familiar with the matter, NBC news reported that the White House was expecting pastor Andrew Brunson, who was detained for alleged connections to the failed coup attempt in Turkey, to be released in coming days.

"Under an agreement senior Trump administration officials recently reached with Turkey, Brunson is supposed to be released after certain charges against him are dropped at his next court hearing, currently scheduled for Friday, the senior administration officials and a person briefed on the matter said," NBC said.

The initial reaction to this report boosted the demand for the TRY and dragged the USD/TRY pair to its lowest level in a week near 5.91. As of writing, the pair was trading at 5.95 and losing 2% on the day.