The Turkish lira on Friday rose more than 3% after President Recep Tayyip Erdogan said the country would not buy the Russian-made S-400 missile defense systems, according to German newspaper Bild. The U.S. had said it would hold delivery of its F-35 fighter jets and impose sanctions had President Erdogan gone ahead with the deal with Russia, lumping further pressure on the struggling economy. The lira USDTRY, -1.04% hit a session high at 5.9599 versus the greenback and in most recent trade a single dollar fetched 6.0072 lira.