Turkish lira firms after Trump says US not looking at sanctions on Turkey

The Turkish lira firmed on Thursday afternoon after US President Donald Trump said the United States is not currently looking at sanctioning Turkey over its purchase of Russian air defence systems. 

The currency was steady earlier in the day, shrugging off the US decision to remove Ankara from the F-35 fighter jet program after it began receiving delivery of the Russian S-400 missile defence system last week.

The lira briefly firmed to 5.6140 against the dollar following Trump's comments, before weakening to 5.6325 against the dollar at 1716 GMT.

The currency was trading at 5.6860 against the dollar at 0637 GMT, little changed from Wednesday's close of 5.6840.

The currency has been hit this year by Washington's threats that it would impose sanctions on its NATO ally should it go through with the purchase of the Russian system.

Isik Okte, a...

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