{"id":42117,"date":"2021-02-26T14:46:55","date_gmt":"2021-02-26T10:46:55","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=42117"},"modified":"2021-02-26T15:07:22","modified_gmt":"2021-02-26T11:07:22","slug":"the-turkish-lira-is-close-to-erasing-its-gains-since-the-beginning-of-the-year","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/the-turkish-lira-is-close-to-erasing-its-gains-since-the-beginning-of-the-year\/02\/26\/market-updates\/","title":{"rendered":"The Turkish Lira is Close to Erasing Its Gains"},"content":{"rendered":"\n<p>The Turkish lira fell for a fifth day in a row today, Friday, hit by high US bond yields, which contributed to erasing almost all of the gains made this year, and paving the way for a potential more difficult battle in the face of double-digit inflation.<\/p>\n\n\n\n<p>The lira fell to 7.7480 against the dollar before recovering to 7.34, only to remain slightly lower during the session. The Turkish currency rose strongly until mid-February, outperforming its counterparts, after ending last year at 7.44.<\/p>\n\n\n\n<p>Turmoil in global bond markets has sparked investor anxiety, with concerns that losses could spark a sell-off driven by anxiety elsewhere. Investors ditched emerging market currencies as 10-year Treasury yields posted the biggest jump this month since 2016.<\/p>\n\n\n\n<p>Analysts say that if the lira\u2019s weakness continues despite Turkey\u2019s adoption of one of the tightest monetary policies in the world, the import-dependent economy may see more upward pressure on inflation already looming at 15%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Turkish lira fell for a fifth day in a row today, Friday, hit by high US bond yields, which contributed to erasing almost all of the gains made this year, and paving the way for a potential more difficult battle in the face of double-digit inflation. The lira fell to 7.7480 against the dollar &hellip;<\/p>\n","protected":false},"author":9,"featured_media":37851,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[7095],"class_list":["post-42117","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-turkey"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/42117","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=42117"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/42117\/revisions"}],"predecessor-version":[{"id":42119,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/42117\/revisions\/42119"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/37851"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=42117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=42117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=42117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}