Turkish lira after Moody's Turkey rating

The Turkish lira gained against the dollar after Moody's Investors Service raised Turkey's government bond ratings by one notch to Ba1 from Ba2 on Wednesday, and has maintained its positive outlook on the country. By 0537 GMT the lira strengthened to 1.7921 against the dollar from 1.7980 before the upgrade announcement. The agency cited a significant improvement in Turkey's public finances and the resulting increased shock-absorption capacity of the government's balance sheet. It also noted policy actions that have the potential to address external imbalances, such as the large current account deficit, which is the largest credit risk facing the country. From TheDailyStar