• The Turkish Lira declined, hovering towards record lows scaled last week following the release of downbeat economic data. 
   
• Turkey's total motor vehicles production decreased by 11.8 percent from a year earlier to 118,030 units in July 2020. Meanwhile, separate data showed the number of foreigners visiting Turkey slumped 85.9 percent year-on-year to 932,927 in July, as the tourism sector has been hit hard by pandemic travel restrictions. 
   
• USD/TRY is trading 0.8 percent higher at 7.3751, having hit an record high of 7.3980 last week.
   
• On Friday, the pair fell as low as 7.2019, its lowest since August 12, but found strong support at 7.2000 handle to close 0.4 percent higher at 7.3199. 
   
• Immediate resistance is located at 7.3980, any close above could take it above 7.4070.
   
• On the downside, support is seen at 7.2922 and break below could take it near 7.2705.