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Turkish lira gains after Trump-Erdogan phone call

11:32 AM 30 May 2019
The Turkish lira is leading the gains in the FX market being up 1.8% against the US dollar. Its strength came after a phone call between Donald Trump and Recep Erdogan taking place on Wednesday. Both discussed the Trump’s decision to reduce steel tariffs on Turkey to 25% from 50%. On top of that, a discussion regarding a possible increase of trade between the two countries also took place.
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