Euro recovers, lira at record low

On Tuesday, the euro is recovering from its weekly startup losses due to the disruption of the Jamaica negotiations. The Turkish Lira crashes to a record low.

The euro has recovered some of its losses at the start of the week on Tuesday. In the morning, the common currency cost $ 1.1745, slightly more than the late night before. On Monday, the euro had been weighed down by failed talks on forming a government in Germany and solid US economic data. The growing tensions between Turkey and the US are making investors nervous. This continued to depress the Turkish currency, pushing the dollar to a record high of 3.9768 lira on Tuesday. At the same time, the leading index of the Istanbul stock exchange fell by up to 0.9 percent.

At the center of the discussion is currently the lawsuit against the Turkish gold trader Reza Zarrab, who accuses the US of violating the Iran sanctions. The Ankara government described the case as a "clear conspiracy against Turkey". The adjournment of the court proceedings on Monday for a week weighed on the mood, judged the experts of the brokerage Deniz Invest. It extends the uncertainty.

Moreover, stockbrokers were uneasy about the renewed attacks by Turkish President Recep Tayyip Erdogan on the independence of the central bank. He had last stated that inflation in the country had risen so much because the government had not intervened.