Turkish lira dives after inconclusive Erdogan-Biden meeting
Propelled by optimism over a possible S-400 missile compromise, Turkey’s lira slid Tuesday after the first meeting between US President Joe Biden and Turkish President Recep Tayyip Erdogan ended without clear progress.
ISTANBUL — Turkey’s lira fell as much as 1.5% Tuesday after a highly anticipated meeting on Monday between US President Joe Biden and his Turkish counterpart Recep Tayyip Erdogan ended without clear progress on bilateral tensions.
The two leaders met for the first time as presidents on the sidelines of the NATO summit in Brussels, and while both relayed positive statements following the talk, markets reacted negatively on unmet expectations over a compromise regarding Ankara’s 2019 acquisition of Russian-made S-400 missiles, which remain a key point of contention in US-Turkey relations.
