- Title: Turks cautious over Trump's economic threat
- Date: 8th October 2019
- Summary: ISTANBUL, TURKEY (OCTOBER 8, 2019) (REUTERS) VARIOUS OF PASSENGER FERRY APPROACHING PORT PASSENGER FERRIES SAILING AT SEA VARIOUS OF PASSENGERS DISEMBARKING FROM FERRY VARIOUS OF ISTANBUL RESIDENTS WALKING IN STREET (SOUNDBITE) (Turkish) ISTANBUL RESIDENT AND STUDENT, HANDE NUR DURAN, SAYING: "I believe the threats of Trump are real because both economically and technologically we are still dependent on external sources and the U.S. is one of them. Together with the rise of dollar, many other currencies will go up so I think this situation will affect us." (SOUNDBITE) (Turkish) ISTANBUL RESIDENT AND BAGEL SELLER, MASUM AKBAS, SAYING: "I think he (U.S. President Donald Trump) can (affect Turkish economy). I believe in this because he did this before and will do it again. But I really wonder why Turkey is launching military operation in Syria. Is it for PKK or Islamic State or YPG?" (SOUNDBITE) (Turkish) ISTANBUL RESIDENT AND TOURISM EMPLOYEE, ALI CAN, SAYING: "He (U.S. President Donald Trump) will push us from every economic means. Since I am in this business, I can say the tourism will be affected." MAN BUYING NEWSPAPER VARIOUS OF NEWSPAPERS ON DISPLAY HEADLINE ON NEWSPAPER READING (Turkish): "WHO WILL ANSWER TO THIS INSULTING THREAT?" OUTSIDE OF CURRENCY EXCHANGE OFFICE VARIOUS OF ELECTRONIC BOARD SHOWING CURRENCY RATES VARIOUS OF U.S. DOLLAR BEING COUNTED ON MACHINE
- Embargoed: 22nd October 2019 10:18
- Keywords: Turkey Syria US Trump economy military operation dollar exchange rates
- Location: ISTANBUL, TURKEY
- City: ISTANBUL, TURKEY
- Country: Turkey
- Topics: Conflicts/War/Peace,Military Conflicts
- Reuters ID: LVA001B08KITJ
- Aspect Ratio: 16:9
- Story Text:Residents of Istanbul expressed worries on Tuesday (October 8) after U.S. President Donald Trump threatened to destroy Turkey's economy if a prospective military strike in Syria goes off-limits.
The lira, which lost more than 2% of its value on Monday to close at 5.8370, recovered to around 5.8195 against the U.S. dollar by 0811 GMT, after weakening to 5.8465 earlier in the day.
Turkey's main share index, BIST100, was down 1.75%. The banking index declined 2.12%.
Residents of Istanbul said they find Trump's threats plausible.
The U.S. withdrawal will leave Syria-based, Kurdish-led forces, who have long been allied with Washington, vulnerable to the planned incursion by the Turkish military, which brands them terrorists.
Tensions between the United States and Turkey have been simmering in recent months over issues including Turkey's purchase of Russian missile defense systems and disagreements over policy in Syria.
Turkey's sovereign dollar bonds came under fresh pressure, with some longer-dated issues slipping to two-week lows. Bonds maturing in 2030 and beyond lost nearly 1 cent in a second day of decline.
In a currency crisis last year, the lira lost nearly 30% of its value against the dollar, partly over concern about worsening ties between Ankara and Washington.
(Production Credit: Bulent Usta and Deniz Uyar) - Copyright Holder: REUTERS
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