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Lira Falls to Two-Week Low as Turkey-Kurd Border Violence Flares

  • Bonds slide, sending 2-year yields to highest since Jan. 27
  • U.S. urges Turkey, Syrian Kurds to halt their shellings
Updated on

Turkey’s lira fell to the weakest level in almost two weeks and bonds slid after the eruption of fighting on the border with Syria triggered concern security risks were escalating.

The currency depreciated 0.7 percent after Turkish artillery units shelled Syrian Kurdish forces suspected of trying to seize more territory along the border over the weekend. The U.S. urged both sides to halt their fire. Bonds fell, sending the two-year note yield 12 basis points higher, the most in nearly three weeks, to 11.20 percent.