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Turkish Lira DumpsAfter S&P Warns, CutsTurkishOutlook

// ZeroHedge

Having benefited from the earlier QE-un-taper hope, the Turkish Lira is dropping rapidly following the move by S&P to put Turky on negative outlook:

*TURKEY’SOUTLOOKTONEGATIVEFROMSTABLEBY S&P*S&P SEESRISKSOFHARDECONOMICLANDINGINTURKEY

Furthermore, the ratings agency raising questions over the Central Bank:

*TURKEYSUFFERINGEROSIONOFGOVERNANCESTANDARDS, S&P SAYS*TURKEYSUFFERINGEROSIONOFCHECKSAND BALANCES, S&P SAYS*CONSTRAINTSONTURKEYCENBANKINDEPENDENCE: S&P.

EM Un-fixed.

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