The already embattled Turkishlira tumbled some 16 percent to new record lows against the dollar on Friday as US President Donald Trumpsaid he had doubled steel and aluminum tariffs on Turkey.
"The United States should know that the only result such sanctinos and pressure will bring... will be harming our relationship as allies", the Turkish foreign ministry said in a statement.
Turkey's spat with the United States has further weighed on the lira.
Turkey is facing a deepening economic crisis, as the Lira fell sharply by about 22% in Friday's early morning trading and the yields on government debt rose further, said a press statement by the Central Bank of Egypt (CBE) on Friday, adding that doubling the tariffs applied to Turkish aluminium and ssteel coincide with the Turkish delegation's failure to reach a compromise with the U.S. authorities.
Similar to EUR/USD, global stocks also succumbed to losses as risk sentiment declined. "This is called carrying out an operation against Turkey", he said.
"If they have the dollar, we have Allah", he said.
Over the weekend Erdogan said there was a "currency plot" against Turkey and argued the fall in the lira was not connected to economic fundamentals. Since then, U.S. President DonaldTrump and Vice-President Mike Pence have called for his release, while Ankara says the decision is up to the courts. Trump also threatened additional "large sanctions" against Turkey, a North Atlantic Treaty Organisation ally, for Brunson's detention.
Erdogan: Lira crash political plot against Ankara Erdogan downplayed the currency crisis in a speech on Friday, advising Turks not to be anxious over exchange rate fluctuations. U.S. stocks fell Friday amid the geopolitical concerns that pushed the Turkish lira to the record low against the dollar.
Russia Backs Saudi Arabia In Canada Feud Even the United States, Canada's closest ally and partner, issued a very neutral statement , saying "Canada and Saudi Arabia are both close allies of the United States".
Turkish President Recep Tayyip Erdogan on Saturday branded interest rates a "tool of exploitation" which should be kept as low as possible.
"If you have dollars, euros or gold under your pillow, go to banks to exchange them for the Turkish lira".
Last week, the USA imposed sanctions on Turkey's justice minister and interior minister for refusing to release American pastor Andrew Brunson, who had been in custody since 2016 on charges of terrorism and espionage that Washington says are bogus. Trump said in a post on Twitter.
The Turkish president was referring to American pastor Andrew Brunson, who is accused of ties to Erdogan's arch-nemesis, Muslim cleric Fetullah Gulen, who lives in exile in Pennsylvania, and whose extradition the Turks have been demanding on the grounds that he organized the 2016 coup attempt against the Erdogan regime.
"It's still the case that the euro and Australian dollar are most readily in the firing line, given concerns over euro zone exposure to Turkey and the Aussie's status as the market's preferred EM/risk proxy", NAB's Attrill said of the impact of the falling lira on Group-of-10 currencies. Gulen denies the allegation.
After Brunson had been in jail for nearly 20 months, a court in July ordered him to be moved to house arrest.
According to the Wall Street Journal, the fall in the TRY in the face of increased United States tariffs on aluminum and steel raises uncertainty for investors in emerging markets.
A nervy world No.18 committed 31 unforced errors in blustery conditions as Barty broke Berten's serve four times. Halep broke the third-seeded Stephens with a crosscourt victor to take a 5-4 lead and serve for the set.
Not to be confused with the " Best Picture " award, the additional category is causing quite the uproar on social media. Actor Rob Lowe tweeted that "the film business passed away today with the announcement of the "popular" film Oscar ".
If you lose 4-0, it's not to have any excuses but I think in football, two or three balls decide the score. West Ham will play for sure a good season, but they are not then the Uniteds, Citys and all that stuff.
The victor will be awarded a rare McGold Card "in mobile form", entitling them to free McDonald's for the next five decades. Nevertheless, entering the contest takes a minimal amount of effort and it could earn you a whole lot of McDonald's .
During the years, we played a few times against Juve and I had a special feeling that the Italian supporters like Cristiano. The Portuguese forward signed from Real Madrid this summer for a fee of around €100m after spending nine years in Spain.
Jordanian security forces gather during a raid in the city of Salt, northwest of the capital Amman, August 12, 2018. The officers had been chasing suspects in an explosion a day earlier in which a policeman was killed.
Arsenal are likely to press in the early stages, if Emery's approach against Guardiola in the past is anything to go by. We trained just one week. "He made some very good things in the World Cup, how he moved and created space for others".
Naturally they exhausted as the game went on but the job was nearly done and Pochettino's decision had already been justified. Their best fell to new loan signing Salomon Rondon but his shot deflected onto the crossbar when he was played through.
PGA Championship Round 4: Tiger Woods hole by hole
Those birdies after his big blunder stood out to Finau, one of only 11 players to make the cut in all four majors this year. Eldrick Woods wasn't the only "Tiger" turning heads Saturday during the third round of the PGA Championship at Bellerive.
Gal Gadot Joins 'Ralph Breaks the Internet'
We just got so much more excited for this movie! Here's hoping this brings enough gaming goodness to keep people like me happy. As we already learned, Gadot will be playing the character Shank from the online racing game Slaughter Race .
Ton-up Woakes Lords it over India in second Test
By contrast, Saturday " s play started under sunny blue skies that promised to make life easier for the batsmen. When Jos Buttler went for 24 - Shami's third leg-before wicket - England looked capable of crumbling again.
Unai Emery confirms new Arsenal captain
Arsenal signed experienced Switzerland global Stephan Lichtsteiner in a free transfer from Serie A giants Juventus. Emery faced Pep Guardiola regularly when they were in charge of Valencia and Barcelona respectively.
Arsenal Vs. Manchester City Live Stream
The other four captains are goalkeeper Petr Cech and midfield trio Aaron Ramsey , Ozil and Granit Xhaka, Emery revealed on Friday. His Arsenal side will host Manchester City on Sunday before travelling to Stamford Bridge to face Chelsea next weekend.
Djokovic downs home boy Polansky in Toronto
Djokovic, the ninth seed in Toronto , last won the Rogers Cup in 2016 and is coming off a win at Wimbledon this year. Haase instead faced Russian veteran Mikhail Youzhny, who pulled out of his second-round qualifying match on Sunday.
Blue Light Emitted By Smartphones Could Be Causing Blindness
The resulting damage can speed up macular degeneration - a condition that affects that can blur out the middle part of our vision. Unfortunately, there's now no cure for AMD, although certain treatments like eye injections can help slow down its progression.