Turkish lira low.
The Turkish lira fell to a new record low yesterday, tumbling 0.7 percent on signs of more discord between Turkey and Europe. President Recep Tayyip Erdogan has accused Belgium of being a center for supporters of the outlawed Kurdistan Workers Party (PKK) and Fethullah Gulen, the cleric who Ankara says orchestrated a failed July coup. He has also accused Germany of not being committed to the fight against terrorism. Roxana Hulea, a strategist at Societe Generale, said the lira was likely to remain under pressure. “We do consider Turkey as being one of the least protected during this renewed pressure on emerging markets,” Hulea said.