Shares rebound as Turkish lira pulls out of dive [Reuters]
SVB Financial Group (SIVB)
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Source: Reuters
Shares rebound as Turkish lira pulls out of dive | 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 on Tuesday recovered some ground, trading at about 6.32 to the dollar, up almost 8 percent from the previous day's close after earlier touching 6.2995. TRY= It was supported by news of a planned conference call in which the finance minister will seek to reassure investors concerned by President Tayyip Erdogan’s influence over the economy and his resistance to interest rate hikes to tackle double-digit inflation. The dollar advanced to a 13-month peak against a basket of major currencies as traders increased their safe-haven holdings of the U.S. currency on worries about the lira-related fallout. The Turkish currency lost almost 10 percent on Monday and nerves were briefl
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