Turkey's currency jumps after Washington and Ankara reportedly reach deal to release detained American pastor

pulse

October 11, 2018 8:21 PM

The Turkish lira jumped Thursday after reports said its government could release a detained American within days, a step toward resolving tensions between Washington and Ankara that have helped roil the currency in recent months.

The
NBC reports Washington and Ankara have reached an agreement on the release of a detained American pastor.

The Turkish lira jumped Thursday after reports its government could release a detained American within days, a step toward resolving tensions between Washington and Ankara that have helped roil the currency in recent months.

NBC News first reported the White House reached a deal with the Turkish government to release North Carolina pastor Andrew Brunson, who has been detained in the country for two years, if certain charges against him are dropped.

The US would ease economic pressure on Turkey as part of the agreement, two senior administration officials told NBC, although it isn't yet known what measures it might include.

After the two countries failed to make progress on negotiations for Brunson's release in August, President Donald Trump doubled the rates of import taxes on Turkish metals. His administration had earlier placed sanctions against high-level Turkish officials who were thought to have played roles in Brunson's arrest.

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