Turkey's lira hits record low after election jolt for ruling AKP

The Turkish lira hit a record low in weekend-thinned trade on Sunday, after the governing AK Party failed to win an outright majority in a parliamentary election, raising the prospect of a minority or coalition government. "Turkish political risk has been a focal point for market concern for some time.  It has now been taken to a whole new level," said Nicholas Spiro of Spiro Sovereign Strategy. "We expect a minority government and an early election," a senior AKP official told Reuters on condi