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Turkish lira falls after ratings downgrades

Turkish lira falls after ratings downgrades

The Turkish lira fell on Monday after S&P Global and Moody’s downgraded the country’s sovereign credit rating further into junk territory and shots were fired at the U.S. embassy in Ankara, while emerging stocks rose over 1 percent. As Sonia Legg reports, the battered lira tumbled 1.5 percent and Turkish sovereign dollar bonds fell across the curve with some issues down as much as 1 cent.

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