More US sanctions for Turkey if they don't obey

Turkey's Move to Double Tariffs on US Goods a 'Step in the Wrong Direction,' White House Says

Last week, Washington doubled steel and aluminum tariffs on Turkey over its continued detention of the US pastor Andrew Brunson.

The growing tensions between Washington and Ankara have sent the Turkish currency tumbling to historic lows.

The lira has lost almost 40 percent of its value against the dollar this year, driven by worries over Erdogan's growing influence on the economy and his refusal to raise interest rates despite high inflation.

On Monday, the central bank said it would provide all the liquidity Turkish banks needed, as it seeks to keep money flowing in the financial system. "The fundamentals of the Turkish economy are robust and Turkey will emerge stronger from this process", Ibrahim Kalin wrote.

The lira's collapse has plunged the entirety of the emerging market space into chaos, with contagion causing the likes of the South African rand, the Argentine peso, and the Indonesian rupiah, to slump in response.

Turkey has taken advantage of the United States for many years.

The way the American administration has presented the Brunson case to the American public is that a good man of religion has been put on trial in Turkey for his religious activities to spread Christianity - this is an absolute lie.

Calling once again for Turkey to release Pastor Andrew Brunson Friday, President Donald Trump had harsh words for the North Atlantic Treaty Organisation ally before leaving the White House Friday for Southhampton, New York.

More news: USA ambassador says United Kingdom should join Trump and put pressure on Iran

"I am one hundred per cent behind the boycott appeal", he said.

On Thursday, Trump tweeted that the U.S. would "pay nothing" for the release of Brunson, but would punish Ankara if he is not released. He was recently moved from prison to house arrest. "Theirs are out of retaliation", said Sanders yesterday.

Turkey has always been more risky market within broader emerging markets basket and a fallout of its default will be on European banks, he said.

The source said: "The two leaders underlined the importance of further strengthening economic and trade relations and boosting mutual investments between France and Turkey". Yet, it seems Trump and Pence have started to believe in their own false claims and are insistent on his release and return to the U.S. It seems they are after the Christian votes in the upcoming congressional elections in November.

Al-Shehri said Ankara appeared to have blackmailed Qatar into supporting it.

"Rates have gone up by 10 percent".

On Friday, the Turkish lira, which suffered record losses against the dollar earlier this week before recovering, fell about 5 percent, to about 6.11 to the dollar, after President Trump warned via Twitter that the country faces more punitive measures.

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