Turkish lira declines after Trump's statements

NEWS DESK

The Turkish lira, which lost about 30% of its value against the dollar last year, declines to 5.53 against the US currency by 07:36 GMT from near 5.4540 on Friday after touching 5.5450 in morning trade, Reuters said.

"We will devastate Turkey economically if it hits the Kurds," US President Donald Trump tweeted on Monday.

In another context, data showed that Turkey's industrial output declined for the third month in row by 6.5% on a year basis in November, in an additional sign that the economy is slowing.

Turkish-US relations have been strained in recent weeks in light of the US withdrawal from Syria, due to Turkey's intention to launch attacks on liberated areas in north and east Syria.

During the Syrian crisis, Turkey has been supporting ISIS and bought oil from them, now, with the imminent elimination of ISIS, Turkey continues to support Jabhit al-Nusra in Idlib, in northwest Syria, to use it to realize its dreams of controlling Aleppo and north and east Syria which looks at it as Ottoman states according to the National Pact and must restore them under its control.

H/S

ANHA