Turkish lira falls to record low against U.S. dollar

Turkey’s lira fell to a record low against the U.S. dollar on Thursday after traders interpreted comments from a Federal Reserve policy maker as ruling out a Fed swap line to cushion Ankara’s depleted reserves.

Thursday’s fall to 7.25 pushed it beyond the record low hit during a 2018 currency crisis and extended five sessions of declines as the country grappled with the economic impact of the coronavirus outbreak.