Lira Slides as Traders Remain on Edge Amid U.S. Sanction Threats
- U.S. threat weighs on sentiment before Pastor Brunson ruling
- Turkish markets will be closed next week for a public holiday
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Turkey’s lira slumped against the dollar, falling for the first time in four days, as the prospect of renewed conflict with U.S. keeps markets on edge.
With Turkish markets closed next week for a public holiday, some traders are bracing for turbulence amid thin liquidity. Retail investors are also buying dollars, according to an Istanbul-based trader who declined to be named as he is not authorized to speak to the media. The threat by the U.S. to impose more sanctions on Turkey if American pastor Andrew Brunson is not freed added to the skittishness.