EMERGING MARKETS-Lira down 1 pct as inflation jumps, trade tensions pressure yuan [Reuters]
CHINA MOBILE (CHL)
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chinamobileltd.com/en/ir/reports.php
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Source: Reuters
EMERGING MARKETS-Lira down 1 pct as inflation jumps, trade tensions pressure yuan | Reuters 7 Min Read LONDON, July 3 (Reuters) - Turkey’s lira fell more than 1 percent on Tuesday after inflation leapt by more than expected, while trade tensions between the United States and China continued to take their toll on the yuan and investor appetite for emerging stocks. The lira slipped as much as 1.4 percent against the dollar to one-week lows after consumer price inflation spiked 2.61 percent month-on-month in June, for an annual 15.39 percent rise year-on-year. This is the highest since 2004 when a new method of calculating inflation was introduced. Producer prices also rose 3.03 percent month-on-month for an annual rise of 23.71 percent. The leap in inflation comes despite emergency rate hikes by the Turkish central bank in recent weeks, tightening policy by 500 basis points. Henrik Gullberg, an emerging markets strategist at Nomura, said the focus was now on whether the central bank wou
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