The Turkish lira fell against the US dollar today, prompting the government to threaten actions against speculators that drive the currency down.
The Turkish lira reversed yesterday’s rally against the US dollar today even though the greenback remained rather soft. It proved that analysts were right to be bearish on the Turkish currency due to concerns about political reforms, economic troubles, and militant attacks. Yet the government argued that there were no fundamental reasons for the lira to be so weak and pledged to take actions to support the currency.
USD/TRY rose 0.7% to 3.7862 as of 13:44 GMT today.
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