The Turkish lira rebounded yesterday as dollar weakness helped it move off record lows while emerging stocks rose to two-month highs, led by strong gains in Russia and some Asian bourses.The Turkish lira, which has lost around 8% against the dollar since the start of 2017, recovered by 1.2%, pulling away from Wednesday’s record lows as the dollar fell 0.7% against a basket of currencies.“There is in general a more optimistic sentiment on emerging currencies today, which is because of the dollar weakening as a consequence of Trump’s speech on Wednesday,” said Cristian Maggio, head of emerging markets strategy at …read more
Source: Gulf times
