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Forex News: Turkish Lira Falls To 6-day Low Against U.S.

Turkish Lira Falls To 6-day Low Against U.S. Dollar

06/01/2022 - 08:49:00 (RTTNews)

(RTTNews) - The Turkish lira declined against the U.S. dollar in the European session on Wednesday, as a data showed that nation's factory activity remained subdued in May amid muted customer demand and ongoing price pressures.

Survey data from the Istanbul Chamber of Industry and S&P Global showed that manufacturing PMI was unchanged at 49.2 in May.

The reading signaled a third successive moderation in the health of the manufacturing sector as customer demand remained subdued.

The Turkish lira fell to a 6-day low of 16.45 against the greenback from yesterday's close of 16.38. If the currency extends decline, 18.00 is possibly seen as its next support level.

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