Saturday May 11, 2019
By AARON HANKIN
The Turkish lira on Friday rose more than 3% after President Recep Tayyip Erdogan said the country would not buy the Russian-made S-400 missile defense systems, according to German newspaper Bild.
The U.S. had said it would hold delivery of its F-35 fighter jets and impose sanctions had President Erdogan gone ahead with the deal with Russia, lumping further pressure on the struggling economy.
The lira USDTRY, -3.3667% hit a session high at 5.9599 versus the greenback and in most recent trade a single dollar fetched 6.0072 lira.