Turkey's currency nosedives on economic concerns, United States dispute

Erdogan says attempts to exert economic pressure on Turkey futile

Turkey's lira hit a new record low against the USA dollar in early trade on Friday, as concerns over a widening rift with the United States persisted after a Turkish delegation returned from talks in Washington with no apparent solutions to the crisis. Washington imposed financial sanctions on two Turkish ministers and warned of additional measures.

He is facing up to 35 years in prison if found guilty of supporting the coup to overthrow President Recep Tayyip Erdogan.

Turkey on Wednesday sent a government delegation to Washington in an attempt to defuse the situation, but it wasn't clear whether any progress was made.

Salah, Ronaldo and Messi on Champions League awards shortlist
The three nominees for the Europa League Player of the Season award are drawn from the final and continue the Spanish theme. Real Madrid have already lost Ronaldo to Juventus this summer.

However, a defiant Erdogan brushed aside concerns, telling a roaring crowd of Turks in the Black Sea city of Rize not to worry. "There are various campaigns being carried out. Don't heed them", Erdogan said. "If they have the dollar, we have Allah", he said in a speech early today. We are working hard.

"It's been a double whammy for the lira", said Rodrigo Catril, a senior currency strategist at National Australia Bank in Sydney, referring to the tensions with the United States and the Financial Times report.

Turkish economist Korkut Boratav sees the need for urgent action: "The economy is fragile".

Younes Bendjima's sexy cuddle buddy breaks her silence
On Wednesday, the 37-year-old reality star slipped into a white bikini and went for a jump on an outdoor trampoline with a friend. Kardashian and Benjima first met in Paris in October 2016, the same night her sister Kim Kardashian West was robbed at gunpoint.

A new analysis by Berenberg Bank sees little long-term impact of high Turkish inflation and low interest rates on eurozone gross domestic product (GDP) growth.

The single-currency is down half a percent against the Dollar, and even Sterling is taking a good slice of recent losses back with the Euro-to-Pound conversion notching a 0.25% slip to 0.8964, with the exchange rate having been as high 0.9030 this week. Erdogan said China, Mexico, Russia and India will be new markets for his country's exports. "In a case of a crisis, this normally implies a lot of volatility and quick capital outflows".

Obviously a real Turkish crisis would have knock-on effects, though Berenberg sees Europe's exposure to Turkish banks as being too small to cause much harm. "The Europeans should have known that they should not lend to distressed banks", criticizes Boratav.

Usain Bolt to train with Australian soccer team
He remains the world record holder at the 100m - with a time of 9.58 seconds - and the 200m, where he has clocked 19.19 seconds. The Mariners have insisted that the extended trial is not a commitment to a contract, but want to give the Jamaican a chance.

Related News:



Most liked

Xi Jingping's Pooh Bear Animus Gets 'Christopher Robin' Banned in China
And despite being released around the world, fans of Winnie the Pooh living in China will not be able to enjoy watching the film . Chinese authorities do not provide reasons to Hollywood studios when they reject their movies, the source said.

West Nile detected in Dresden
Cases generally tend to spike during the summer and fall months, between June and September, when activity is the most common. The health department will also continue spraying pesticides until this year's first "freezing" temperatures.

Grieving orca still carrying her dead calf more than two weeks later
Canada has received and is granting a permit for scientists to assess and treat the young orca, a female, in Canadian waters. Tahlequah is part of the Southern Resident population which the NOAA Fisheries says is critically endangered.

Kurt Zouma Staying Put In London As Everton Look To Seal Loan
Manchester United need a defensive upgrade on the likes of Chris Smalling and Phil Jones and Zouma is certainly that. He has not made an appearance in any of the pre-season fixtures under new manager, Maurizio Sarri .

Jose Mourinho 'not confident' of deadline day signings
Klopp landed Roma goalkeeper Alisson Becker for £66 million and paid £52 million for RB Leipzig midfielder Naby Keita. Crucially, Chelsea have so far staved off interest from Real and Barcelona in Eden Hazard and Willian.

Everton Complete Triple Deal For Bernard, Mina, and Andre Gomes
It is the best league in the world. "I am also determined to do my best for Everton ". Everton signings Yerry Mina and Andre Gomes .

Australia's central bank continues to hold interest rate
The AUD/USD still looks like a good pair to sell on rallies, with the fundamentals remaining bearish for the Aussie currency. This is largely due to reduced demand by investors as the dynamics of the housing market have changed.

Jose Mourinho furious over centre-back hunt
Claude Puel's realistic aim will be to have Leicester finish in the top half of the Premier League this season. By their usual standards, Manchester United have had a disastrous summer transfer window.

Courtney Smith Says OSU Never Contacted Her About Domestic Abuse Allegations
The Buckeyes typically open the beginning of selected practices and regularly make coaches and players available for interviews. An Ohio native, he flew in from Myrtle Beach, South Carolina, to lead a demonstration in support of Meyer at Ohio Stadium.

Jose Mourinho growing concerned at Manchester United's lack of activity
Mourinho was speaking at a 9am press conference and his words did not equivocally rule out the possibility of something happening. I was told that during pre-season it looked like I was saying something absolutely out of order, something insane .

Alan Shearer And Ian Wright Make Their Premier League Predictions
But the Manchester Evening News say that, because of Anthony Martial, United refused to test the waters. United should be challenging. "That's why I am backing Jurgen Klopp's side to pip them to the title".

Ryanair strike: One in six flights cancelled in pilot walkout
If the strike goes ahead, it will hit mainly passengers travelling from Eindhoven. Ryanair slammed the strike as "unnecessary".

Brad Pitt's Lawyers Fire Back at Angelina Jolie's Child Support Claims
And according to UsWeekly , a major reason for the bitter battle is Jolie's holdup is resentment towards her third husband. Another source added: 'Brad has completely lived up to his commitments as far as child support and will continue to do so'.

We Do Not Shadow Ban for Political Views — Twitter CEO
This followed news that the company had shared the data of 87 million users with political consulting firm Cambridge Analytica . The show, for example has famously spread misinformation about the Sandy Hook school shooting, claiming it never happened.

North Korea chides U.S. for following ‘outdated acting script’
The United States was "attempting to invent a pretext for increased sanctions against the DPRK". The White House and State Department did not immediately return requests for comment.