Turkey lira crashes as Trump piles on pressure

The  Turkish Lira tumbled over 16 per cent to new record lows against the dollar as strains with the United States intensified. However,Turkish President Recep Tayyip Erdogan defiantly proclaimed his country would emerge victorious in an “economic war”.

President Donald Trump said yesterday he had doubled steel and aluminium tariffs on Turkey, noting that relations between the NATO allies were “not very good”.

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