EMERGING MARKETS-EMEA FX sinks, Turkey's lira plunges to another record low

  • 10/28/2020
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* Turkish lira breaches 8.2 to USD, 9 a possibility * Russian rouble leads FX losses * South African rand drops ahead of mid-term budget * CEE currencies fall Oct 28 (Reuters) - Turkey’s lira touched a new low for a third day on Wednesday as the country’s inflation outlook worsened and a surge in the novel coronavirus and uncertainty over the U.S. election weighed on other emerging markets in Europe, Middle East and Africa. The lira sank more than 0.7%, breaching 8.2 to the dollar. The Turkish Central Bank raised its 2020 inflation forecast, but pledged to use all its tools to tighten monetary policy because of the risks posed by weakness in the lira.

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