Turkish Lira Calms Down

Matt Dunham - WPA Pool/Getty Images The lira has stabilised on Tuesday morning after a dramatic decline over the last 9 days. Turkish President Erdogan has vowed action against "economic terrorists" and claimed the US is waging economic "war" against the country. The drop in the lira was sparked by US sanctions against Turkey, economic conditions in the country, and a strong dollar that is pulling foreign investment out of Turkey and back to the United States.