Dollar to Turkish lira rate slips in line with US dollar weakness in almost all major currencies and emerging markets
Another positive assessment of the US economy and reassurance over tax reform from President Donald Trump was not enough to spur further buying in Asia after the past week's rally.
Lira has potential to recover some of its losses against greenback but it remains heavily dependent on context
US dollar/Turkish lira exchange rate falls under 3.6702 for the first time in 4 weeks
Turkish Treasury says dollar-denominated bond sale was more than three times oversubscribed
A weaker yen helped Japanese stocks lead a broad advance across Asian markets as optimism was buoyed by Yellen's remarks on the economy but traders moved cautiously ahead of Donald Trump's inauguration on Friday.
Loss of value comes ahead of Theresa May's speech on Brexit
There was muted reaction to end-of-the-year data from China showing the world's number-two economy was still struggling on the trade front, with uncertainty over Trump's upcoming presidency.
Lira trades at 3.8950 against dollar early Wednesday
Dollar/lira exchange rate hits 3.7779 mark, marking new low for Turkish currency
Turkish lira gains advantage against the dollar for the first time since Dec. 1
Dollar strength and waning investor confidence are driving the lira lower
The Turkish lira on Friday dropped to its lowest level in two months against the U.S. dollar, to 2.29 liras.
The move away from the U.S. dollar is yet another reaction to Western sanctions placed on Russia since it annexed Crimea from Ukraine in March.
Gold extended its recent losses too, reacting to stronger equities and the robust U.S. economic data that curbed its safe-haven appeal.
The Turkish Lira rallied to its highest value in over three months against the U.S. dollar.