Turkish lira weakens again as U.S. Senate passes tough measures

The Turkish lira hit its weakest level against the dollar in more than two months on Wednesday after the U.S. Senate passed legislation with provisions to punish Ankara, raising concerns about already strained Ankara-Washington ties.

The lira, which has lost some 10 percent this year, weakened to 5.9050 by 0613 GMT from a close of 5.8880 on Tuesday. The currency has slipped the last three trading days.

Ties with Washington have been troubled by policy differences in Syria and Turkey’s purchase of Russian S-400 missile defence systems.

The U.S. Senate on Tuesday passed legislation that among other things calls on U.S. President Donald Trump to impose sanctions on Turkey and halt delivery of F-35 jets.

Source: Reuters