European markets are heading for a mildly positive open after U.S. President Biden and House Speaker McCarthy reached a deal to raise the nation’s debt ceiling.
The currency was trading at 19.97 against the greenback as of Monday 4 a.m. London time.
"We have a pretty pessimistic outlook on the Turkish Lira as a result of Erdogan retaining office after the election," Wells Fargo's Emerging Markets Economist and FX Strategist Brendan McKenna told CNBC's "Squawk Box Asia." "It's a very bleak economic and markets outlook for Turkey," McKenna added, forecasting that the lira will reach a new record low of 23 against the dollar by end of the second quarter.CNBC Pro: How much of A.I. is just hype? A bull and a bear share their tips on how to invest
Artificial intelligence has taken the investing world by storm since early this year — thanks largely to the emergence of ChatGPT, which triggered a wave of buying into AI-related stocks.
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