Turkish delight in strength of lira
It appreciated 6.5% to 1.351 between 10 December, when talks on Turkey's accession to the EU began, and January 4. Peter Redward, head of emerging markets strategy for Deutsche Bank in London, put the strength of the currency down to a more optimistic outlook on the country's economic management. He said: "The authorities shifted to a more formal establishment of monetary policy that has been positive for sentiment, and the market has been encouraged by lower than expected inflation figures
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