Turkey’s lira slipped to record lows following President Erdogan’s re-election. Many analysts expect the currency to fall further as the country’s long-running economic imbalances come to a head. WSJWhatsNow
The Turkish lira fell 1.4% against the dollar to a new record low, an unusually large move for the currency that suggests policymakers are gearing up for a larger depreciation following Sunday'sOne U.S. dollar recently bought 20.4 lira, the most on record.
Tuesday’s decline was the currency’s largest daily percentage move since June. The lira has been trading in a tight range due to the central bank’s efforts to control the currency’s decline through intervention and policies that deter demand for foreign currency. The central bank stepped up those efforts around the election, further eroding the
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