The Turkish lira plunges to a record low after Turkey detained pro-Kurdish opposition leaders

Turkish lira plunged to a record low against the dollar after Turkey’s government detained 11 leaders of its largest pro-Kurdish party and shut down access to social media in the country, according to the FT.

The currency is down by 1.2% at 3.1522 per dollar as of 7:45 a.m. ET.

The yield on 10-year government bonds climbed to a more than five-month high and Turkish equities fell the most in the world, according to Bloomberg data.

The FT also reports that a car bomb exploded near the courthouse that Selahattin Demirtas, one of the co-chairs of the pro-Kurdish People’s Democratic party (HDP) who was detained, was to be brought into later on Friday.

Federica Mogherini, the EU’s foreign affairs head, said earlier that the bloc is very concerned by Turkey’s arrest of the leaders and MPs.


As for the rest of the world, here’s the scoreboard as of 7:59 a.m. ET:

  • The US dollar index is little changed at 97.17 ahead of the October jobs report. Wall Street is expecting nonfarm payrolls to rise by 173,000, the unemployment rate to slip to 4.9%, and average hourly earnings to rise 2.6% year-over-year. Head over here for the full rundown.
  • The British pound is up by 0.3% at 1.2498 against the dollar.
  • The Russian ruble is little changed at 63.5806 per dollar, while Brent crude oil, the international benchmark, is down by 0.3% at $46.22 per barrel.

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