The dollar surged against the Turkish lira on Thursday after a surprising large rate cut. The Central Bank of the Republic of Turkey cut interest rates to 16% from 18%, more than the 0.5 point to 1 point cut markets anticipated. The dollar climbed to 9.3095 lira from 9.2133 lira on Wednesday.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
