Markets

Turkish lira firms after Fed rate cut signal

Published June 20, 2019 Updated June 20, 2019 08:22am

The lira stood at 5.7390 to the dollar at 0657 GMT, hitting its firmest level in two weeks, after Wednesday's close of 5.7855.

The U.S. Federal Reserve on Wednesday said it was ready to battle growing global and domestic economic risks with interest rate cuts beginning as early as next month, as it decided to hold its rates steady.

Turkey's main BIST 100 index was up 1.13% while banking index was up 2%.

Copyright Reuters, 2019