Lira Bonds Surge on Rates Before Moody’s Upgrade

Lira Bonds Surge on Rates Before Moody’s Upgrade

Kerem Uzel/Bloomberg

The lira has weakened 2.2 percent against the dollar this year, compared with a 4.8 percent decline in the Polish zloty, 2.6 percent drop for Russia’s ruble and the 9.1 percent slump in the South African rand.