The USDTRY is the currency pair for the US dollar(USD) and the new Turkish Lira (TRY). The USDTRY is one of the commonly traded combinations involving the new Turkish Lira. The search for higher interest rates is often one of the primary drivers in trading the pair. The new Turkish Lira has high volatility driven by the country's political situation and dependency on foreign investment to fund its significant current account gap (second largest current account deficit among emerging nations). Changes to US monetary policy alongside any market uncertainty are some of the factors that influence most of the moves of the USDTRY pair.