The Turkish lira nosedived again following concerns about the country's economic policies and sanctions from the U.S. Banks are falling along with interest rates.
The currency's drop - 40 percent so far this year - has become a gauge of fear over a country facing the fallout of years of debt-fueled growth, worldwide concern over President Recep Tayyip Erdogan's push to amass power, and a souring in relations with allies like the U.S.
Turkey's embattled lira on Friday hit new record lows against the USA dollar and euro, losing over seven percent in value as strains with the United States showed no sign of abating and fears grew over the exposure of European banks.
He said Turkey was not afraid of "threats" and added Turkey had "alternatives" for economic cooperation in many places "from Iran, to Russian Federation, to China and some European countries". He claims higher rates lead to higher inflation - the opposite of what standard economic theory says. "There are various campaigns being carried out. Whatever they do, the market doesn't believe them", British economist Timothy ash of BlueBay Asset Management told CNBC.
'If they have their dollar, we have the people, we have Allah, ' he said.
Meanwhile emerging market borrowing costs continued to climb, with the average premium of emerging hard currency bonds over safe-haven US.
PRICES: The Labor Department said consumer prices climbed 2.9 percent in July compared with a year ago.
NASA poised to launch first Sun-skimming spaceship
Thomas Zurbuchen, from NASA's Science Mission Directorate, said: "By studying our star, we can learn not only more about the Sun". Mission managers say that may sound like a lot but is really quite a close shave, given the sweltering conditions out there.
NASAs planet-hunting probe catches comet in action
As Space.com explains , these brightening and dimming behavior is caused by stellar mechanics, not by planets orbiting the star. This ability is critical in the search for alien planets , which is the primary goal of NASA's advanced satellite.
New Finance Minister BeratAlbayrak - Mr Erdogan's son-in-law -acknowledged that the central bank's independence was critical for the economy, promising stronger budget discipline and a priority on structural reforms.
Turkish companies have borrowed roughly US$300 billion in foreign currency, and now have to repay it in devalued Turkish lira.
Trump tweeted Friday that he authorized raising tariffs on Turkish steel to 50 percent and aluminum to 20 percent as the country's currency falls rapidly against the USA dollar.
Securing the release of Brunson, arrested in 2016, is a top priority for the United States, and it is also tussling with Turkey over the detention of three locally employed US embassy staff, trade issues and differences over Syria. Even though in its aftermath the Turkish economy shrank, eurozone confidence remained unchanged and credit growth even rose during the period. "They keep lagging behind the curve and the pace of the depreciation and the penalty that the market inflicts on Turkey when it sells off is increasing at a more than linear pace, nearly exponentially".
Heavy dollar buying interest from importers and banks also weighed on the trading front.
"Investors have been looking at the unfolding currency crisis in Turkey as a local difficulty, however the accelerating speed of the declines appears to be raising concerns about European banks exposure to the Turkish banking system", said Michael Hewson, chief market analyst at CMC Markets UK.
The Galaxy Watch can track 39 exercises, six of them automatically without you even having to launch the device's workout mode. The Note 9 is also a big phone - so if you're a fan of smaller screens then you'll probably want to stick with the iPhone.
Cardiff City have expressed an interest in landing AFC Bournemouth midfielder Harry Arter , according to reports. The 28-year-old Republic of Ireland worldwide last played a Premier League game for the Cherries on January 1.
The adjustments are similar to what the Patriots did past year with tight end Rob Gronkowski's deal, the source told Schefter. Even with his salary likely to sit at roughly $20 million, Brady will be a bargain among quarterbacks of his calibre.
Asked if he was hiding recollections of the night, he said: "No, all my actions were in self-defence and fearing for my safety". The cricketer said he consumed about three or four pints of lager and five or six vodka and lemonades on the evening.
Speaking to Vanity Fair , he said: 'It could be a woman - could be a black woman, could be a white woman, ' he said. Back in 2014, Sony's then-studio chair Amy Pascal told a colleague that "Idris [Elba] should be the next Bond ".
She said Ullrich was under the influence of drugs and alcohol and could be charged with "assault or attempted murder". Police spokesperson Carina Lerch said the retired German cyclist was arrested after police were called to the hotel.
Written and directed by rock musician Crispian Mills , the film stars Pegg as a teacher at a British boarding school. Pegg also described Slaughterhouse Rulez as "a big metaphor for the United Kingdom privatizing things".
That sum is 6% greater than the investment made by the South Korean conglomerate over the past three years, according to Reuters . It reflected Samsung's commitment to support youth employment, Samsung said in a statement.
Escho's told the British newspaper, "I never was happy with taking photos but using filters made me feel like I looked good". Other studies have found that 55 percent of plastic surgeons have seen patients who want to look better in selfies.
Betts homers to complete the cycle
He made his second appearance this season against the best team in baseball and his teammates provided run support. Mookie Betts hit for the cycle for the Red Sox (81-34), who lost for the first time in August.
Klopp: We are the Rocky to City's Drago
If Matip and Gomez are unavailable, Nathaniel Phillips, who has performed well in pre-season, will likely partner Van Dijk. We did not reach anything so far. "We can not go there and win just because we are Liverpool".
'Bright future' for Force India with takeover deal agreed
Force India COO Otmar Szafnauer worked with the administrators to find new investors and is confident the team's future is bright. Force India has been bought by a consortium led by Canadian businessman Lawrence Stroll , father of Williams F1 driver Lance.
Last solar eclipse of 2018 on 11th
During a partial solar eclipse, there is no totality because the moon will only cover a portion of the sun, according to NASA. Due to the limited range of influence, the partial solar eclipse will not be live streamed by an agency or observatory.
'Worst drought in living memory': Australia's big dry
Southern Australia has experienced near-record levels of dry weather; rainfall has been 57mm below average for the time of year. Others have had to bulldoze orchards or lose their farms, leaving entire families without income, according to Australian media.
Canadian police say at least 4 dead in shooting
The incident in the town of Fredericton is said to be "ongoing". "Doors are locked and everybody's inside", he said. She also reported that people were being escorted out of the area by police.