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Turkish lira plunges 14% versus dollar after Trump authorizes doubling metals tariffs on Turkey

“We are facing economic attacks today, and we need to defend our country,” Erdogan said, according to a separate translation” writes Fred Imbert for cnbc.com. The lira briefly fell 20 percent against the U.S. currency, reaching a record low, after Trump made the comment in a tweet.Erdogan said Turkey was facing an “economic war” and noted the country would respond to those countries who had started it.Trump’s tweet and the White House comment came after Turkish President Recep Tayyip Erdogan asked citizens to convert their dollars and other foreign currencies as well as gold holdings to lira.
 
Source: cnbc.com



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