Turkish lira deteriorates after US threat of sanctions on Turkey

The Turkish lira fell to 5.9 against the dollar after a US threat of sanctions against Ankara, Reuters reported on Friday.

Turkey's currency weakened after US Treasury Secretary Steven Mnuchin said President Donald Trump had authorized US officials to draft a new "very big" sanctions against Turkey after Ankara launched an offensive in northeast Syria.

European Union governments have threatened sanctions against Turkey for its attack in Syria, and angrily dismissed Turkish President Recep Erdogan's warning that he would "open the doors" and send 3.6 million refugees to Europe if they did not support him.

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