Turkish lira hits weakest level this year after U.S. inflation

FILE PHOTO: Turkish lira banknotes are seen in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration

ISTANBUL (Reuters) – Turkey’s lira fell around 0.8% against the dollar to its weakest level this year on Thursday, a market holiday in Turkey, after U.S. inflation figures put it under pressure.

The lira slipped as far as 8.4910 to the dollar, its weakest since last November. It was trading at 8.473 at 0715 GMT.

Data on Wednesday showed U.S. consumer prices jumped by the most in nearly 12 years in April, boosting the dollar against emerging market currencies.

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