Trump Says U.S. Won't Pay Turkey for Pastor's Release

A man shops in a market in Istanbul Monday Aug. 13 2018. Turkey's central bank announced a series of measures on Monday to free up cash for banks

Turkey has taken advantage of the United States for many years.

Turkey's banking watchdog has taken steps to stabilise the currency, limiting futures transactions for offshore investors and lowering limits on swap transactions.

The Turkish lira has lost almost 40 percent of its value against the dollar this year.

"They should have given him back a long time ago, and Turkey has in my opinion acted very, very badly, so we haven't seen the last of that". "So, we haven't seen the last of that. We are not going to take it sitting down", Trump said.

Turkey and the United States exchanged new threats of sanctions Friday, keeping alive a diplomatic and financial crisis that is threatening the economic stability of the North Atlantic Treaty Organisation country as a Turkish court rejected the appeal of an American pastor caught in the middle of the row. They made up this phony charge that [Brunson] is a spy and he's not a spy...

Donald Trump is once again turning the heat on Turkey with the detention of an American pastor.

It was not immediately clear what additional measures, if any, Trump could be considering.

The Turkish lira was slightly lower on Friday after the U.S. warned Ankara should expect more sanctions over the detention of an American evangelical pastor.

Obviously this raises the stakes of the U.S. imposing more sanctions.

Could the lira crisis spread?

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Can Buyuker, who works in an exchange bureau in a busy Istanbul neighbourhood, said both Trump and Erdogan were playing up to nationalist voters.

He also accused foreign players of creating "currency plots".

Economists gave Mr Albayrak's presentation a qualified welcome and the lira subsequently held firm.

Experts say markets need more than technical remedies like the central bank's promise to provide emergency liquidity to banks, or the government's promise not to seize dollar-denominated bank deposits.

Turkish Finance Minister Berat Albayrak, who is Erdogan's son-in-law, and his Qatari counterpart Ali Sharif Al-Emadi were present at the talks in the capital Ankara.

However, analysts are calling for a sharp hike in interest rates - which Erdogan adamantly opposes because it will put a brake on economic growth.

The slide sent jitters across emerging market currencies.

The leader of Turkey's main opposition party said Erdogan was using the standoff over the evangelical pastor as a "pretext", blaming the United States for economic problems and diverting attention from his own alleged mismanagement.

The Turkish court in Izmir upheld a lower-court decision that rejected lifting Brunson's house arrest, according to the state-run Anadolu agency.

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