The Turkish currency rallied as much as 1.6 percent. AFP / Amir MAKAR
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Turkey's lira gained the most among emerging markets amid speculation a detained American pastor could be released next month, ending a dispute between the NATO allies that has wreaked havoc on the currency.The U.S. imposed sanctions on Turkey in August over the pastor's detention, and has threatened to follow suit with more punitive measures if he is not set free, compounding a 40 percent depreciation in the lira this year. The Turkish currency rallied as much as 1.6 percent to 6.1899 against the greenback, before trimming gains to 6.2226 .
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