Economy-Business-Markets

Turkish lira weakens to 5.86, U.S. warns of more sanctions

The Turkish lira weakened to 5.86 against the dollar on Friday from a close of 5.8150 as investors weighed up a U.S warning that Turkey should expect more economic sanctions unless it hands over detained American pastor Andrew Brunson.
FILE PHOTO: A U.S. dollar banknote is seen on top of 50 and 100 Turkish lira banknotes in this picture illustration in Istanbul, Turkey August 14, 2018. REUTERS/Murad Sezer/Illustration/File Photo
The lira TRYTOM=D3 has weakened 35 percent against the dollar this year, with losses fuelled by the deterioration in ties between the NATO allies. It has rebounded strongly from a record low of 7.24 which it hit at the start of this week.