Turkish Lira Extends Its World Beating Advance to a Third Day
- SocGen says the rebound in the currency still has legs
- The lira advances as much as 2.1 percent as the dollar drops
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The lira climbed the most among major global peers for a third straight day, buoyed by the dollar’s decline and optimism over the central bank’s readiness to shore up the currency.
It appreciated as much as 2.1 percent, putting the Turkish currency on course for its longest winning streak in a month. While options traders are still pessimistic on the lira, they’re paying less to bet on its decline than the ruble for the first time in about two weeks.