The Turkish lira has come under renewed pressure and fallen to a new low against the US dollar.<br /><br /> The drop is a major blow for the ruling party just weeks before elections.<br /><br /> Markets are unsure of Turkey’s economic direction under President Recep Tayyip Erdogan.<br /><br /> Markets are further spooked by the possibility that Deputy Prime Minister Ali Babacan, seen as a safe pair of hands, could lose his cabinet position after the June election. <br /><br /> The lira has lost almost 16 percent in value against the dollar over the last three months.
