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Turkish Lira Halts Recovery, Falls vs. Dollar & Euro

August 17, 2018 at 15:53 by Vladimir Vyun

Closeup of the Turkish 20-lira noteThe Turkish lira halted its rebound and fell versus the US dollar and the euro today as concerns about the situation in Turkey resurfaced.

Lately, it looked like the fears about the financial stability in the Middle Eastern nation subsided. Yet concerns returned after the United States threatened to slap additional tariffs on Turkish goods unless Turkey releases the detained American pastor. Relations between the two NATO allies soured after the Turkish government imprisoned pastor Andrew Brunson for alleged ties to outlawed groups.

USD/TRY rose from 5.8136 to 6.0720 as of 15:43 GMT today, touching the high of 6.3395 intraday. EUR/TRY gained from 6.6238 to 6.9301, and its daily high was at 7.2296.

If you have any questions, comments, or opinions regarding the Turkish Lira, feel free to post them using the commentary form below.

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