Turkish high court rejects appeal for U.S. pastor Brunson's release

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Global investors have been anxious by Turkey's high levels of foreign debt and Erdogan's refusal to allow the central bank to raise interest rates to support the currency, as experts say it should.

Turkey could be at a risk of a major default, as it is sitting on very high foreign currency debt, said Russell Napier, Independent Investment Strategist & Co-Founder of ERIC.

"We got somebody out for him", Trump said, referring to Turkish President Recep Tayyip Erdogan.

"Even if tensions between the U.S. and Turkey are resolved, investors still need to see serious fiscal and monetary measures to restore confidence".

The Trump administration said it would use a section of United States law that allows for tariffs on national security grounds to impose the increased duties. "They can't take our people".

In a conference call with thousands of investors and economists, Albayrak - who is Erdogan's son-in-law, said Turkey fully understood and recognised all of its domestic challenges, but was dealing with what he described as a market anomaly. Trump, who counts evangelical Christians among his core supporters, has increasingly championed the pastor's case.

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

Tamim bin Hamad Al Thani, the Amir of Qatar, tweeted: "Today, in the framework of important negotiations with His Excellency President Erdogan in Ankara, we announced a package of deposits and investment projects worth $15 billion in this country, which has a productive, strong and robust economy".

On Thursday, Trump tweeted: "Turkey has taken advantage of the United States for many years". Erdogan has accused the USA of waging an economic "war" against the country.

At 1827 GMT the currency TRYTOM=D3 stood at 6.0350 to the dollar, 4 percent weaker after tumbling as much as 7 percent earlier. "Would the amount of Turkey's debts decrease?"

Turkey and Qatar have become close economic and political partners. On Friday, Finance Minister Berat Albayrak and his French counterpart Bruno Le Maire spoke by telephone. The US government and human rights groups have disputed that claim. On Friday, a court rejected another appeal to free him. "Having said that, we fully support the president's approach".

Turkey has proven a key ally for Qatar over the past year, helping the tiny Gulf nation ride out a more than 14-month blockade by its powerful neighbors, including Saudi Arabia, with which it shares its only land border. "Our relations with Turkey are not good at this time!"

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