The Trader 

Market Outlook: Turkey takes a tumble

The Trader

Following the detention by Turkish authorities of a US consulate employee in Turkey last week, a tit-for-tat spat between the two nations has resulted in visa services between them being suspended.  The US mission in Ankara added, ‘recent events have forced the United States government to reassess the commitment of government of Turkey to the security of US mission and personnel’.  In early morning trading the lira lost 4 per cent against the greenback to 3.7694, the closest it’s been to January’s record low at 3.9407.

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