1:58 PM · 8 January 2019

Turkish lira leads EM currencies retreat

Emerging market currencies are clearly down on Tuesday led by the Turkish lira, down more than 2% on the US dollar. The lira slides as the president of Turkey refused to meet US National Security Advisor during his visit in Turkey after the US refrained from withdrawing its troops from Syria. Other major losers include South African rand (USDZAR +0.9%) and the Hungarian forint (+0.65%).

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Losses can exceed deposits

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