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Wednesday, February 09, 2011

Turkish Lira Snaps Four-Day Gain on Rate-Cut Speculation; Stocks Advance - Bloomberg

"Turkish Lira Snaps Four-Day Gain on Rate-Cut Speculation; Stocks Advance
By Selcuk Gokoluk - Feb 9, 2011 5:46 AM ET

The Turkish lira weakened for the first time in four days as some investors speculated the central bank may cut interest rates to stem capital inflows.

The lira depreciated 0.8 percent to 1.5886 per dollar at 12:16 p.m. in Istanbul."

More:Turkish Lira Snaps Four-Day Gain on Rate-Cut Speculation; Stocks Advance - Bloomberg