The Turkish lira and shares could come under fresh pressure on Wednesday following overnight falls in foreign markets and continued concerns about rising interest rates in the world's major economies.
"There is demand for foreign exchange," said one banker, citing sharp rises in global gold and oil prices which have reignited fears about inflation in Turkey and chances of higher interest rates abroad.
The lira strengthened 0.3 percent against the dollar on Tuesday to close at 1.3390 on the interbank market. In early trade on Wednesday it traded at 1.3424 to the dollar. Bond prices also rose on Tuesday as yields on the benchmark September 5, 2007 bond fell to 13.89 from Monday's 13.92 percent.
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