Stock markets mostly slumped Friday, while the British pound tanked to a 37-year dollar low as weak UK retail sales stoked global recession fears. Sterling slid to $1.1351, the lowest level since 1985, on news that British retail sales tumbled by far more than forecast in August as shoppers faced...
Turkish lira makes rare gains on ‘indirect’ rate hike
Turkey's troubled lira on Monday pared back some of its historic losses after President Recep Tayyip Erdogan announced new currency support measures that analysts interpreted as an indirect interest rate hike. Erdogan has pushed the central bank to sharply lower borrowing costs despite the annual rate of inflation soaring to...
