Opposition Istanbul Mayor, Ekrem Imamoglu, has expressed confidence of his re-election despite the challenges of a fractured opposition. The upcoming local elections in March will send several messages to President Erdogan’s administration, he said. Particularly concerning the people’s desire for “democracy, justice, and the rule of law.” Imamoglu’s initial victory in Istanbul in 2019 ended AK Party’s 25-year rule in Turkey’s biggest city. However, the absence of a united front against AK Party’s candidates among opposition parties, including his own, the Republican People’s Party (CHP), is expected to make the re-election bids more challenging this time.
The EURUSD currency pair remains in a tight range above the 1.0900 support level on Monday as it struggles for direction. Investors seek fresh cues at the start of a busy data week, which may indicate how much the Federal Reserve will cut interest rates in September.
