Turkish Lira Plunges After U.S. Suspends Some Visa Services

A political tit-for-tat between the U.S. and Turkey roiled currency markets as the week opened, with traders dumped the lira after the two countries suspended non-immigrant visa services for each other’s citizens. The currency weakened more than 6 percent against the greenback early in the day and some traders said live platform pricing was switched off for some lira exchange rates. The currency was down 2.6 percent at about 3.71 a dollar as of 5:36 a.m. in London.

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