Amid a surge of anti-government protests in Turkey, the Turkish lira has fallen compared to the U.S. dollar. But it doesn’t end with the lira and political unrest in Turkey — many emerging market currencies are down. When interest rates were extremely low in the U.S., investors put their money in rapid growth economies. As U.S. rates rise, that cash is coming back. What are the global economic reverberations ?
Chris Turner, head of foreign exhcange strategy at ING Commercial Banking in London, joins Marketplace Morning Report host David Brancaccio to discuss.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.
Stock market-inspired cocktails!
Donate any amount to get our “Stonktail” recipes.