Why The Turkish Lira Continues To Fall
May. 5, 2015 3:13 AM ET | Includes: TUR
Manufacturing activity in Turkey is contracting.
Moreover, this has adversely affected economic activity and lending rates in the country.
With further policy easing expected in Turkey, the lira should decline in coming months.
The Turkish lira is falling as manufacturing activity declines, weighing on economic growth, which is leading to policy easing. Since the start of 2015, the U.S. dollar has appreciated against the lira by nearly 20%.
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