Lira Trims Gain as Turkey Mulls Placing S-400s on Southern Coast
- Currency pares a more than 2% advance against the dollar
- Trump, Erdogan spoke by phone about missiles on Wednesday
Photographer: Alexander Nemenov/AFP via Getty Images
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The lira trimmed gains on speculation Turkey may deploy a Russian missile-defense system along its southern coast, a move that could anger the U.S. and drag it into renewed economic turmoil.
The currency was trading 1.4% stronger against the dollar as of 4:45 p.m. in Istanbul, after surging more than 2% earlier in the day on speculation that Turkish President Recep Tayyip Erdogan was working to break the impasse over the planned purchase of the S-400 battery. The U.S. has threatened to impose sanctions on Turkey if the deal is completed.