Battered Turkish lira rebounds

The Turkish lira rallied 1.6% on Tuesday, briefly touching its strongest level in nearly three weeks, after the US Federal Reserve delivered an emergency interest-rate cut to cushion the economic blow from the coronavirus spread. The lira firmed to 6.065 at 1557 GMT against the dollar, which tumbled after the Fed cut rates by 50 basis points. Turkey's currency has rebounded this week after logging nine straight down days as investors sought safer assets due to the virus, and also as Turkey's military involvement deepened in neighbouring Syria.