Turkish lira volatility gauges jump as spot rate sinks again

LONDON: Turkish lira implied volatility gauges jumped on Thursday after the country's central bank suspended its 1-week repo auction following another tumble by the currency in spot markets.

One-week, one-month and three-month implied volatility rose in tandem, with the one-week gauge climbing to 17 vol from 14.5 vol.

The lira had earlier slipped to its weakest level in nearly eight months on the back of investor concerns at the decision to re-run Istanbul's mayoral election.