Lira Weakens First Day in Three After Moody’s Downgrades Japan
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Turkey’s lira depreciated for the first day in three after Moody’s Investors Service cut Japan’s debt rating, overshadowing optimism spurred by expectations the U.S. Federal Reserve may announce additional asset purchases.
The lira lost 0.7 percent to 1.7815 per dollar at 5:59 p.m. in Istanbul, retreating after yesterday’s 0.9 percent gain and making it the third-worst performer today among more than 20 emerging-market currencies tracked by Bloomberg.