Economics
Turkish Lira Tumbles as Volatility Returns After Holiday Week
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The lira slid on Monday with volatility rebounding, ending a week of relative calm as Turkey’s markets opened after public holidays.
The dollar surged as much as 4.9 percent against the lira to 6.2974, with the Turkish currency extending losses as the U.S. trading day got underway. One-month implied lira volatility, a gauge of expected swings in the currency, jumped to exceed 40 percent after dropping during holidays last week.