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Turkish Lira Is Dropping Fast

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News video: Turkish Lira Is Dropping Fast

Thomson Reuters The Turkish lira has fallen more than 10% against the dollar after a Turkish delegation in Washington failed to prevent US sanctions.

There are concerns that contagion could spread to Europe.

The euro dropped below 1.15 against the dollar on Friday.

"[The lira] is falling so fast that a parachute is the first thing that comes to mind to prevent the lira smashing into the ground," Bart Hordijk, Market Analyst at Monex, Europe told Business Insider..

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