Turkish Lira Tumbles As Erdogan Re-Escalates US Tensions

In early trading, the Turkish Lira is slumping (having tagged pre-US-Visa highs) as President Tayyip Erdogan showed no retreat from a diplomatic row with the United States, castigating Washington for what he called an “undemocratic” indictment against his security detail.
As Reuters reports, his comments may further dash hopes of a quick resolution to an on-going diplomatic crisis between the NATO allies. Both Ankara and Washington have cut back issuing visas to each other’s citizens as ties have worsened.

This post was published at Zero Hedge on Oct 22, 2017.

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