Worst Currency to Tumble as Turkey’s Pain Threshold Tested

Turkey’s lira, this year’s worst-performing major currency, may tumble as a record current-account deficit and rising inflation undermine the central bank’s week-long attempt to stem the drop, options prices show.

Central bank chief Erdem Basci, who had encouraged a weaker lira to reduce the current-account deficit, resisted further depreciation last week as the lira sank to a two-year-low of