TURKISH LIRA LEAPS AFTER ERDOGAN WIN CALMS FEARS

INVESTORS breathed a sigh of relief today as fears over further political uncertainty in Turkey were quelled by Recep Tayyip Erdogan’s victory.

The lira rose as much as 3% against the dollar and the euro and was broadly flat at 6.07 against the pound as Erdogan and his alliance were poised to take majority control.

Turkey’s Borsa Istanbul 100 rose

2160 points to 98,021.

Investors had feared run-off elections. The lira was at its highest in two weeks.