Global shares rebound as lira pulls out of nosedive [Reuters]
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Source: Reuters
Global shares rebound as lira pulls out of nosedive | Reuters 5 Min Read NEW YORK (Reuters) - World share markets rebounded on Tuesday as Turkey’s lira pulled out of a recent nosedive and reassuring data from Germany helped offset the latest wobbles in China’s giant economy. After three weeks of heavy pounding, the lira got some respite as signs Turkish authorities were trying to address the unresolved damage triggered a more than 5 percent relief rally to just under 6.5 per dollar. TRY= (Graphic: Turkey's ripple effect on global assets - reut.rs/2vHB5ry ) Still, the currency lost almost 10 percent on Monday and nerves were briefly tested again as President Tayyip Erdogan urged Turks to boycott U.S. electronic products in response to recent criticism from Washington. “I don’t believe it’s all over,” said Minh Trang, senior currency trader at Silicon Valley Bank in Santa Clara, California. “We are just getting a bit of reprieve from the recent down move.” The Turks have exhausted the
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