Yen Advances as Turkish Turmoil Intensifies

The US dollar index is practically unchanged on Monday, after reaching its highest level in more than a year on Friday. Japanese yen is the strongest among its peers, benefiting from concerns over the situation in Turkey and its potential repercussions.

The sterling and Euro are both on the back foot, while Turkish lira touched a new all-time low of 7.21 per dollar earlier today.

The US markets closed in the red on Friday. Market participants turned their sights to safer assets as the crisis in Turkey led investors to decrease their exposure to equities.