August 20, 2018 / 4:27 AM / 4 months ago

Turkish lira trades steady after rating downgrades

ISTANBUL, Aug 20 (Reuters) - The Turkish lira traded steady against the dollar on Monday, showing no reaction to Friday night’s moves by Moody’s and Standard & Poor’s ratings agencies to cut Turkey’s sovereign credit ratings deeper into “junk” territory.

At 0425 GMT, the lira stood at 5.9950 against the U.S. currency, firming slightly from 6.0100 at the close on Friday. Turkish markets were set to begin a public holiday from midday lasting until the end of the week. (Reporting by Canan Sevgili; Editing by Daren Butler)

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