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Turkey's lira remained under pressure in Asian trade Tuesday but markets in the region enjoyed a little more stability after the previous day's turmoil. Nervous investors are keeping an eye on developments in Ankara after Monday's bloodletting that saw the lira hit record lows against the dollar and euro, and equity markets go into freefall on concerns Turkey's financial crisis could spread globally. The crisis has been sparked by a series of issues including a faltering economy -- the central bank has defied market calls for rate hikes -- and tensions with the United States, which has hit Turkey with sanctions over its detention of an American pastor.
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