Bloombeerg TV just said that the EURO took a "Turkish Bath"
Euro, EM Currencies Drop on Turkey Contagion Fear
The euro slumped with emerging-market currencies and stocks declined amid concern Turkey’s problems are spilling over. The Turkish lira hit a fresh record low amid a souring of diplomatic relations with the U.S. The common currency sank and the dollar extended gains as the Financial Times reported that the European Central Bank was concerned about the Turkish exposure of some banks. Traders sought out traditional havens in U.S. Treasuries and the yen. Turkish investors are looking to President Recep Tayyip Erdogan to calm their nerves when he speaks Friday for the first time since the latest selloff began. Other emerging market ... (full story)
- Posted: Aug 10, 2018 2:34am
- Submitted by:Category: Fundamental AnalysisComments: 4 / Views: 1,875