ISTANBUL (Reuters) - The Turkish lira tumbled to a record low against the dollar on Monday, after the Trump administration said it was reviewing Turkey's duty-free access to the U.S. market, a move that could affect some $1.66 billion (£1.28 billion) of Turkish exports.
The U.S. Trade Representative's review, announced on Friday, came after Ankara imposed retaliatory tariffs on U.S. goods in response to American tariffs on steel and aluminium.
Relations between the NATO allies have steadily worsened, strained by differences on Syria policy and an escalating row over the trial in Turkey of an American Christian pastor, exacerbating the sell-off in the lira.