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Turkish Lira At 2-week High Against Dollar Amid Turkey's September Industrial Production Report 92 days ago
(RTTNews) - Despite a brief downtrend immediately following the release of Turkey's September industrial production report, the Turkish lira rallied against the US dollar during early European trading on Monday. The lira advanced 0.8 percent to a 2-week high of 1.4727 against the US dollar around 6:00 am ET from Friday's close of 1.484. On the upside, the domestic unit may find target around the 1.465 level.
The Turkish statistical office TurkStat announced today that the nation's industrial production dropped 8.6% year-on-year in September, faster than the 6.3% fall in the preceding month. Economists had expected a more moderate 7.5% fall. On a monthly basis, industrial production fell 0.2% in September.
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