Turkish Lira Seen Outperforming Peers on Central Bank Backstop
By Constantine Courcoulas
April 25, 2018, 11:00 PM EDT Updated on April 26, 2018, 3:09 AM EDT
Turkey’s central bank hasn’t boosted the lira, but it may have saved it ahead of elections.
While the currency quickly erased a jump after policy makers raised a key rate more than expected on Wednesday, it is still beating peers this week. The central bank has provided a buffer from the torrent of bad news that is hurting emerging markets, from higher U.S. Treasury yields to rising oil prices.
More:Turkish Lira Seen Outperforming Peers on Central Bank Backstop - Bloomberg