The Turkish lira strengthened a bit against the dollar on Friday after a ceasefire deal agreed by Turkey and Russia for northwest Syrias Idlib region went into effect. The lira, which initially weakened in early trade, gained 0.15% to 6.0990 against the US currency by 0800 GMT, compared with a close on Thursday of 6.1080. The currency has had a volatile week, sliding to 6.2640 on Monday - its weakest since September 2018 - before rebounding to as far as 6.0345 after an emergency Federal Reserve rate cut. The ceasefire deal was reached in Moscow after talks to contain a conflict that has displaced nearly a million people in three months. Dealers said the implementation of the deal will be closely monitored. "We expect geopolitical tension to lessen somewhat. The ceasefire is important in terms of preventing risks in the field. But we will watch its impact," said a treasury desk trader at one bank. Syrias Idlib region was quiet but tense on Friday, with residents and opposition forces describing a lull in air raids that have pounded the province, to which Turkey has sent thousands of troops in support of the rebels there. The yield on Turkeys benchmark 10-year bond fell to 11.32% on Friday from 11.42% on Thursday. It had fallen to single digits in the first weeks of the year from 21% last year before rising again over Syria-related tensions. The main BIST 100 share index, which rose 0.93% on Thursday, was down 1.03% on Friday. The banking index fell 1.79%. Asian shares and US stock futures tumbled on Friday as disruptions to business from the coronavirus worsened, stoking fears of a prolonged global economic slowdown. "The selling pressure in foreign markets is very strong despite the global interest rate cuts. We are seeing this reflected in the lira," the trader said, adding that US payrolls data later on Friday could affect the dollar.