Turkish Lira Bounces After Earlier Drop

The Turkish lira rose a bit today after falling earlier on the news that Turkey launched a military strike in Syria against Islamic State militants.
Turkey launched a military operation across its borders, aimed at driving off Islamic State militants as well as Syrian Kurds allied with Turkish separatists. Syria did not welcome the news, describing the action as a breach of its sovereignty. Yesterday, Turkey’s central bank cut its interest rates.
USD/TRY was down 0.05% to 2.9516 as of 19:53 GMT today.

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