Turkish Lira Hits High Point of Month as Protest Recedes

After two weeks of clashes

The lira gained for a third day, set for its highest level this month, and bonds rose as calm returned to Istanbul's Taksim Square after two weeks of clashes between anti-government demonstrators and riot police.

The Turkish currency strengthened 0.3 percent to 1.8703 per dollar by 11:31 am in Istanbul, poised for its highest since May 29. Yields on two-year benchmark notes fell for a second day, dropping 12 basis points, or 0.12 percentage point, to 6.68 percent.