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Turkish currency in steepest fall since 2008 on coup attempt

The currency fell to a three-week low versus the U.S. dollar in late U.S. trading on Friday

Published: Updated:

The Turkish lira fell to a three-week low versus the U.S. dollar in late U.S. trading on Friday as because of the failed attempted coup to overthrow the government.

Reports of the coup attempt also stoked safehaven bids for U.S. Treasury bonds, paring their earlier losses.

The Turkey lira was last down 5.0 percent at 3.0300 lira per dollar.

"Have you seen the latest headlines on Turkey? That probably has something to do with it. This dollar surge is very much headline-driven," said Vassili Serebriakov, currency strategist at Credit Agricole in New York.