US House of Representatives voted 403-16 to impose sanctions on Turkey for offensive in Syria

The United States’ (US) House of Representatives voted 403-16 in favor of the legislation that will push President Donald Trump to impose sanctions and other restrictions on Turkey and Turkish officials over its offensive in northern Syria, as per the Reuters.

The source also mentions that Democrats and Trump’s fellow republicans united in Congress to end, and not resume, its offensive against Kurdish forces who helped U.S. troops battle Islamic State militants.

FX implications

While neither the USD/TRY not safe-havens, including the Japanese Yen (JPY) and Gold, failed to show any immediate reaction to the news, this could provide heavy leg-down to the Turkish Lira (TRY) and offer additional weight to the risk aversion on the key economic day.