The Turkish Lira lost ground against the U.S. dollar in the European session on Tuesday, after the Nationalist Movement Party announced its split with the ruling Justice and Development Party for the next elections.
Speaking in Parliament, MHP Chairman Devlet Bah?eli said that he would pull out from the alliance with Erdogan amid bitter divisions over MHP's amnesty proposal.
"We will now chart our own path. We do not plan to ally," Bahceli said lawmakers.
The Lira depreciated 3.7 percent to an 8-day low of 5.87 versus the greenback from Monday's closing value of 5.66. The next possible support for the Lira is seen around the 6.0 region.
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