Turkish Lira Declines as U.S. Sanctions Risk Sours Appetite
Photographer: Burak Kara/Getty Images
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The lira fell for a sixth day as the prospect of U.S. sanctions dimmed the outlook for the Turkish currency.
The lira dropped as much as 1.7% to 8.0272 per dollar before paring declines, after President Donald Trump was said to have signed off on a package of penalties against Ankara over its purchase of Russian S-400 missile systems. Meanwhile, the European Union resisted Greek-led demands for tougher sanctions, and instead held out the possibility of weighing more punitive measures by March if Turkey continues its confrontational acts in the eastern Mediterranean.