[DAWN] The Ottoman Turkish lira weakened on Tuesday as investors weighed up The Sick Man of Europe Turkey
...the only place on the face of the earth that misses the Ottoman Empire....
’s efforts to manage its rift with the United States after Finance Minister Berat Albayrak warned US trade sanctions against Ankara could destabilise the Middle East.
The row with Washington over an American evangelical Christian pastor detained in Turkey on terrorism charges has accelerated losses in the lira, which is down about 38 per cent against the dollar this year.
More broadly, investors are worried about the direction of monetary policy under President Tayyip Erdogan. The president, a self-described "enemy of interest rates" has repeatedly put public pressure on the central bank and picked Albayrak, his son-in-law, as finance minister.
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