Turkish lira firms against dollar ahead of Albayrak presentation [Reuters]
JP Morgan Chase & Co. (JPM)
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Source: Reuters
Turkish lira firms against dollar ahead of Albayrak presentation | Reuters 4 Min Read ISTANBUL (Reuters) - The Turkish lira rallied 3 percent on Thursday ahead of a presentation by Finance Minister Berat Albayrak to investors, shrugging off U.S. comments ruling out the removal of steel tariffs on Turkey even if it frees a U.S. pastor. The lira gained some support from the announcement late on Wednesday of a Qatari pledge to invest $15 billion in Turkey and Albayrak will be looking to reassure investors in his conference call at 1300 GMT. The lira TRYTOM=D3 , which has weakened 34 percent against the dollar this year, firmed to 5.7500 against the dollar by 0722 GMT from a close of 5.95. It has rebounded sharply from a record low of 7.24 this week, benefiting from central bank steps to underpin a currency hit by concerns at President Tayyip Erdogan’s influence over monetary policy and a bitter dispute with Washington. JP Morgan said moves by Turkish authorities showed they were committe
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