The Turkish lira declined against the U.S. dollar in the European session on Wednesday, as a data showed that nation's factory activity remained subdued in May amid muted customer demand and ongoing price pressures.
Survey data from the Istanbul Chamber of Industry and S&P Global showed that manufacturing PMI was unchanged at 49.2 in May.
The reading signaled a third successive moderation in the health of the manufacturing sector as customer demand remained subdued.
The Turkish lira fell to a 6-day low of 16.45 against the greenback from yesterday's close of 16.38. If the currency extends decline, 18.00 is possibly seen as its next support level.
