The publicity surrounding the case will likely lead investors to flee the Turkish lira and possibly send the country's currency down even further, said Marcus Chenevix, a Middle East, North African and global political research analyst at TS Lombard in London. "This case has the capacity to seriously damage relations between Turkey and the US," said a recent report from TS Lombard. "From a US perspective, Turkey has been working to subvert American interests by secretly doing business with an enemy and is now insulting the American Judiciary and threatening American officials." The impact on the lira has the potential to be swift, possibly pushing it past 4 lira to the US dollar, according the Lombard report.
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