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As election looms, Turkish lira feels more pain after Fed rate hike

MarketWatch
As election looms, Turkish lira feels more pain after Fed rate hike

Turkey's lira weakened against developed-market rivals Wednesday, after the U.S. Federal Reserve raised interest rates and worries about Turkey's political future ahead of the June 24 snap election took hold of financial markets. The Fed's 25-basis-point interest-rate increase Wednesday sent