Trump said to be considering fresh sanctions on Turkey, Lira tumbles

Bloomberg quotes people familiar with the matter, as saying that the US President Trump is reportedly considering fresh three sanction packages on Turkey over the country's purchase of Russia's S-400 missile defense system.

The sources said the most severe package under discussion by officials would "all but cripple the already troubled Turkish economy".

Meanwhile, the Lira tumbled on the news, sending USD/TRY to fresh two-day tops of 5.9174. At the press time, the cross retraced to 5.8790, still up +1% on the day.