Turkish Lira Smashing Forecasts Leaves Worst Bear Behind: Chart

Economists tracking the Turkish lira have been left scrambling as the currency weakened beyond their worst estimates. While their median projection for the year-end dropped four times since the U.S. election last week, it hasn’t kept up with an almost 5 percent slump in the exchange rate since then. The lira is on course for a fourth year of losses on concern Donald Trump’s policies will stoke inflation, quickening the pace of Federal Reserve rate increases.

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