A U.S. dollar banknote is seen through a magnifying lens on top of 100 Turkish lira banknotes in this picture illustration in Istanbul, Turkey August 14, 2018. REUTERS/Murad Sezer/Illustration/File Photo
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The Turkish lira firmed against the dollar Friday after weakening in thin holiday trade this week, as a bitter standoff dragged on between Ankara and Washington over the fate of an American pastor being tried in Turkey.The lira firmed to 6.0550 against the U.S. currency from a close of 6.0950, having weakened 1 percent on Thursday after Turkish President Recep Tayyip Erdogan's spokesman accused the United States of waging "economic war". Despite central bank and banking watchdog steps to underpin the lira, it has weakened 37 percent against the dollar this year. The crisis is rooted in investor concern over Erdogan's influence on monetary policy and fuelled by the deepening row with the United States.Erdogan spokesman Ibrahim Kalin responded by saying Washington must respect the legal process concerning the pastor and that Bolton's remarks showed the United States was targeting Turkey's economy.
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