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Asia shares dip as Turkey's lira tanks

6 monthes ago   |   By

Asia share markets skidded and the euro hit one-year lows on Monday as a renewed rout in the Turkish lira drove demand for safe harbors, including the U.S. dollar, Swiss franc and yen.
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Turkish Lira Slides to a Record Low as Erdogan Remains Defiant in Face of Financial Crisis

6 monthes ago   |   By

Turkey is set for another week of financial-market turmoil with its face-off with the U.S. showing no sign of abating.
While officials in Ankara, Istanbul and Washington have the means to stem the mayhem that sent the lira down 25 percent in the past month, the will to deploy them was absent through much of the weekend, with Recep Tayyip Erdogan maintaining his defiance toward the U.S. and financial-market orthodoxy in speeches Sunday.
Pressured by U.S. sanctions and a new constitutional order that concentrates power in Erdogan's hands, Turkey's central bank and finance ministry did little...
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