Turkish Lira Falls To 6-day Low Against U.S. Dollar
June 01 2022 - 4:49AM
RTTF2
The Turkish lira declined against the U.S. dollar in the
European session on Wednesday, as a data showed that nation's
factory activity remained subdued in May amid muted customer demand
and ongoing price pressures.
Survey data from the Istanbul Chamber of Industry and S&P
Global showed that manufacturing PMI was unchanged at 49.2 in
May.
The reading signaled a third successive moderation in the health
of the manufacturing sector as customer demand remained
subdued.
The Turkish lira fell to a 6-day low of 16.45 against the
greenback from yesterday's close of 16.38. If the currency extends
decline, 18.00 is possibly seen as its next support level.
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