Lira flash crash: Erdoğan double-down leaves Turkey exposed
Turkey’s vulnerability to shifts in investor sentiment – and a possible repeat of last year’s currency crisis -- was exposed on Monday when Japanese investors sold the lira in droves, leading to a flash crash that briefly sent the currency down by 10 percent against the dollar.
The lira later recovered most of its losses to end the day down 1.2 percent at 5.8296 per dollar, but the flash crash – the second this year – points to growing concern over the direction of economic policy under President Recep Tayyip Erdoğan.
More:Lira flash crash: Erdoğan double-down leaves Turkey exposed | Ahval
