Shares Regain Footing as Lira Recovers

(From Reuters)

World share markets regained their footing on Tuesday as the threat from the collapse of the Turkish lira ebbed and reassuring German data offset signs of slowing growth in China.

After three weeks of losses, Turkey’s lira finally recovered as the country’s central bank moved to ease pressure on the currency, triggering a 7 percent surge to 6.4 per dollar TRYTOM=D3. It still lost almost 10 percent on Monday alone and has shed more than two-fifths of its value so far in 2018.

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