Euro on defensive as Turkish crisis sparks rush to safety

12 Aug by Vitaliy Dadalyan

Euro on defensive as Turkish crisis sparks rush to safety

Euro on defensive as Turkish crisis sparks rush to safety

The euro was under pressure in Asia on Monday as fears about the exposure of European banks to crisis-hit Turkey sent investors scurrying to safe havens including the U.S. dollar, Swiss franc and yen. Regional stocks also looked likely to suffer as Turkey’s troubles tainted emerging markets in general, while boosting highly rated sovereign bonds. Much of the early action was in currencies with the euro gapping lower as the Turkish lira took another slide to all-time lows around 7.2400.

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Source:: https://finance.yahoo.com/news/euro-defensive-turkish-crisis-sparks-rush-safety-222802320.html

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