TRY continues to decline further following Erdogan's comments earlier this week
The lira is the worst performing emerging markets currency on the day, down by more than 1%. On the year, it has fallen by 15.4% against the greenback now. Some context on Erdogan's comments can be found here and here.
The risk for the emerging markets space is that if the scenes in Turkey and Argentina start to spread around a bit. It could spark real worries there, considering the compounded effect of the recent strength in the dollar and how yields in the US has continued to rise.
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