Page 19 - Frx News Today

Turkey's lira slipped towards a fresh record low against the dollar as President Tayyip Erdogan claimed victory in the country's presidential election on Sunday, a win that would steer his increasingly authoritarian rule into a third decade.

Brazil Finance Minister Fernando Haddad on Friday said the country is about to enter a downward cycle of interest rates, pointing out that inflation is "more behaved."

The Turkish lira hit a record low beyond 20 against the dollar on Friday, ahead of this weekend's presidential election runoff that will decide whether President Tayyip Erdogan extends his rule into a third decade.

The dollar stood near a two-month high against its major peers on Friday and was headed for a third weekly gain on expectations that U.S. interest rates could remain higher for longer than initially expected.

Brazilian central bank chief Roberto Campos Neto said on Thursday that a fiscal framework bill approved a day earlier by the country's lower house has had a positive impact on inflation forecasts and long-term interest rates.

The South African rand made a marginal recovery early on Friday from a new record low struck overnight, after a central bank interest rate hike failed to impress some traders and economists.

Drawn-out negotiations between the White House and Republicans to raise the $31.4 trillion debt ceiling have unnerved markets and fanned worries about the economic impact of a possible default.

The Turkish lira weakened to a record low of 20 against the dollar on Friday, ahead of this weekend's presidential election runoff which will decide whether President Tayyip Erdogan extends his rule into a third decade.

As banks came under mounting pressure in March, Deutsche Bank used big trades to give its cash buffers a temporary boost, employing a method that European regulators have raised concerns over, two sources familiar with the situation said.

Kenya's central bank will hold interest rates at 9.50% on Monday as authorities have probably done enough to slow consumer price rises, a Reuters poll found on Friday.