Turkish lira steady despite new threats from Trump

Turkish lira steady despite new threats from Trump
A general view of Istanbul, Thursday, Aug. 16, 2018. Turkey's finance chief tried to reassure thousands of international investors on a conference call Thursday, in which he pledged to fix the economic troubles that have seen the country spiral into a currency crisis.The national currency recovered somewhat from record lows hit earlier this week. (AP Photo/Lefteris Pitarakis)

ANKARA, Turkey (AP) — 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 Friday, up about 0.4 percent against the dollar.

The currency has recovered from record lows 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 Thursday, 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!”