Turkish lira steady despite new threats from Trump

ISTANBUL

Turkey’s currency remains steady against the dollar despite an apparent threat of possible new sanctions by U.S. President Donald Trump.

The Turkish lira stood at 5.80 per dollar on Aug. 17, up about 0.4 percent against the dollar.

The currency has recovered  earlier this week. Investors, already worried about Turkey’s economy, were irked by a diplomatic and trade dispute with the United States over the continued detention of an American pastor Andrew Brunson on espionage and terror-related charges.

In a tweet on Aug. 16, Trump urged Brunson to serve as a "great patriot hostage" while he is jailed and criticized Turkey for "holding our wonderful Christian Pastor."

Trump added: "We will pay nothing for the release of an innocent man, but we are cutting back on Turkey!"