Turkish Lira At More Than 4-Month High Vs U.S. Dollar After Strong GDP Data

Turkish Lira At More Than 4-Month High Vs U.S. Dollar After Strong GDP Data

The Turkish Lira firmed against the U.S. dollar in European deals on Thursday, as Turkey's economy expanded at a faster-than-expected pace in the fourth quarter of 2015.

Figures from the statistical office Turkstat showed that gross domestic product grew 5.7 percent annually after a 3.9 percent increase in the third quarter, which was revised from 4 percent. Economists had forecast 5 percent growth.

The Turkish Lira climbed to 2.8202 against the greenback, a level not seen since November 2015. The Turkish Lira is seen finding resistance around the 2.80 zone. The pair was worth 2.8320 when it ended yesterday's trading.

The material has been provided by InstaForex Company - www.instaforex.com