Turkeys lira gyrates as President Erdogans party suffers pivotal losses

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m London time Monday after the countrys election board said the opposition party was ahead in Istanbuls mayoral election briefly trading at $5. the currency had regained those losses and was trading at $5. 65 percent in the morning session after falling more than 7 percent last week. If the opposition won in Istanbul that would be a watershed moment. Ballot counts were still underway Monday morning in an anxious wait for Istanbul Turkeys largest city and commercial hub. In Ankara Turkish broadcasters said the CHP candidate had won a clear victory. Erdogan pledged late on Sunday he would now focus on Turkeys troubled economy ahead of national elections in 2023. They robbed us of our will and we overturned this the regions biggest city. The opposition won Ankara according to unofficial figures Monday. If confirmed the swings in Ankara and Istanbul could be excruciating for the politician who campaigned hard to retain hold of them

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