UPDATE 1-Turkish lira slightly firmer after Trump vows 'no concessions'

In an interview with Reuters on Monday, Trump said he was not concerned that his tough stance could end up hurting European and emerging market economies.

The Turkish lira firmed slightly against the dollar in holiday trade on Tuesday, shrugging off comments by U.S. President Donald Trump ruling out agreeing to any demands from Turkey to gain the release of a detained American pastor.

In an interview with Reuters on Monday, Trump said he was not concerned that his tough stance could end up hurting European and emerging market economies.

The lira stood at 6.0700 against the U.S. currency at 0500 GMT, gaining from a close of 6.0865 on Monday, when Turkish markets entered a holiday to mark the Muslim Eid al-Adha festival which continues for the rest of the week.

Trump said he thought he had a deal with Turkish President Tayyip Erdogan when he helped persuade Israel to free a detained Turkish citizen. He had thought Erdogan would then release pastor Andrew Brunson, who denies Turkey's allegations that he was involved in a plot against Erdogan two years ago.

"I think it's very sad what Turkey is doing. I think they're making a terrible mistake. There will be no concessions," he said.

Turkey has demanded that the United States hand over Fethullah Gulen, a Turkish cleric in the United States suspected in the coup plot against Erdogan, but the United States has balked at this.

On Monday, Erdogan appealed to Turks' religious and patriotic feelings ahead of the Muslim holiday, promising they would not be brought "to their knees" by the crisis that has battered the lira.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)