Markets

Turkish lira firms to strongest in almost two months as dollar slumps

Published February 4, 2016 Updated February 4, 2016 01:58pm

1 min

By Shoaib Ur Rehman

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ISTANBUL: The Turkish lira traded at 2.899 against the dollar on Thursday, its firmest since December 7, amid expectations the US Federal Reserve may not raise interest rates this year.

The dollar on Wednesday saw its biggest one-day percentage drop since at least 2009 after weak US data and comments from a Fed policymaker signalled further rate hikes could be delayed.

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