Turkish Lira Halts Recovery, Falls vs. Dollar & Euro

The Turkish lira halted its rebound and fell versus the US dollar and the euro today as concerns about the situation in Turkey resurfaced.
Lately, it looked like fears about the financial stability in the Middle Eastern nation subsided. Yet concerns returned after the United States threatened to slap additional tariffs on Turkish goods unless Turkey releases detained American pastor. Relations between the two NATO allies soured after the Turkish government imprisoned pastor Andrew Brunson for alleged ties to outlawed groups.
USD/TRY rose from 5.8136 to 6.0720 as of 15:43 GMT today, touching the high of 6.3395 intraday. EUR/TRY gained from 6.6238 to 6.9301, and its daily high was at 7.2296.

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