Turkey Brings Down The Euro
EURO COMMENTARY
Matthew Clements at broker Prebon Yamane in London looks at the euro's trading week
The euro market was largely overshadowed last week by events in Turkey, with the Istanbul Stock Exchange falling by 30% before the government floated the lira on Thursday. The knock-on effects finally proved negative for the euro, despite initial safe haven flows on Tuesday that pushed the currency back above $0.91. Against the yen, the euro gained support from speculation of an imminent resignation by prime
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