Looking ahead, Turkey still faces growing risk from investment outflows as the U.S. Federal Reserve normalizes interest rates.
Related: More Tumult for Lone Turkey ETF
“Emerging markets are going to be quite volatile in the coming month as we approach the June Fed meeting,” Simon Quijano-Evans, chief emerging-market strategist at Commerzbank, told Bloomberg.
Traders are projecting a one-in-three chance of a rate increase in June.
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iShares MSCI Turkey ETF