Lira May Reach Record Low, Citigroup Says: Technical Analysis
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The lira, this year’s worst-performing emerging-market currency, may weaken 9.3 percent to an all-time low against the dollar, according to Citigroup Inc.’s analysis of trading patterns.
The Turkish currency headed for its lowest close since March 2009 and the ISE National 100 Index of stocks fell for a seventh day in its longest declining streak in almost three years after Fitch Ratings said Turkey’s record current-account deficit is causing “uncertainty” on its outlook for an investment-grade rating.