Turkey's lira firms in early trade after US Fed decision

ANKARA: Turkey's lira currency strengthened below 5.22 to the US dollar in early trade on Thursday, a day after the United States Federal Reserve signalled its drive to tighten monetary policy may be at an end.

The lira stood at 5.22 against the dollar at 0504 GMT, after having firmed to as much as 5.2128 in early trade. The lira had closed at 5.2320 on Wednesday.

Wednesday's decision by the Fed to hold interest steady and be "patient" before making further moves came amid a suddenly cloudy outlook for the US economy due to global headwinds and impasses over trade and government budget negotiations.