Lira Rebounds From Record as Immediate Strike on Syria Deferred
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Turkey’s lira rebounded from a record low as Western nations deferred an immediate strike on neighboring Syria, boosting appetite for riskier assets.
The lira strengthened 0.4 percent to 2.0311 per dollar at 5:18 p.m. in Istanbul, the biggest appreciation on a closing basis since Aug. 8. Yields on two-year benchmark bonds dropped 16 basis points, or 0.16 percentage point, to 9.78 percent, the lowest level since Aug. 23.