Turkey rebounds slightly on cabinet news

Emerging market Turkey's lira rebounded slightly on news the Deputy Prime Minster Mehmet Simsek would keep his government post.

Recent political uncertainty in Turkey have caused the currency to drop as the President sacked and replaced the former Prime Minister in what many see as strong-armed political consolidation.

Despite the slight rebound, emerging market assets on the whole are still under pressure from a stronger dollar. The dollar has strengthened recently as expectations point to a June interest rate hike by the US Federal Reserve.


Read more at Reuters.